Goldman Sachs, Mutual Funds Acquire 4% Stake in GNG Electronics for ₹175 Crore; Shares Jump Over 7%

Promoter Vidhi Khandelwal Cuts Stake to Meet Public Shareholding Norms

Mumbai, June 12: Global investment bank Goldman Sachs, along with MCP Emerging Markets and several domestic institutional investors, on Thursday acquired nearly a 4% stake in GNG Electronics Ltd. through open market transactions worth about ₹175 crore.

According to block deal data on the National Stock Exchange (NSE), the investors collectively purchased 44,87,203 shares, representing a 3.94% stake in the company, at an average price of ₹390 per share.

The buyers included Goldman Sachs, MCP Emerging Markets, and domestic mutual funds such as Mirae Asset Mutual Fund, ITI Mutual Fund, Edelweiss Mutual Fund, Trust Mutual Fund, and Motilal Oswal Equity Opportunities Fund.

Promoter Offloads Stake

The shares were sold by promoter Vidhi S. Khandelwal, who held a 15.73% stake prior to the transaction. Following the sale, her holding reduced to 11.79%, while the overall promoter and promoter group shareholding declined to 74.77% from 78.71%.

In an exchange filing, the company said the stake sale was undertaken to comply with minimum public shareholding requirements under Securities and Exchange Board of India (SEBI) regulations.

Shares Rally on Strong Institutional Interest

Shares of GNG Electronics rose sharply following the transaction, reflecting investor confidence and strong institutional participation.

The stock closed 6% higher at ₹418.60 on the NSE on Thursday. It extended gains in early trade on June 12, rising 7.23% to ₹448.80 at 9:34 a.m. IST, placing it among the top gainers in the broader market.

Shares of GNG Electronics Ltd witnessed strong buying interest in early trade on June 12, 2026.

GNG Electronics share price opened sharply higher and extended gains during the opening minutes of trade, indicating strong investor participation. The stock added ₹30.25 over its previous close of ₹418.55.

Market participants are closely tracking momentum in electronics manufacturing, refurbishment and technology-linked consumption themes, which continue to attract investor attention across mid-cap counters.

The sharp move also reflects heightened activity in recently listed and fast-growing electronics-focused companies amid improving sentiment in the domestic technology and consumer electronics ecosystem.

Institutional Participation Signals Confidence

The participation of marquee global and domestic investors in the block deal highlights continued institutional interest in the company. Such transactions are often viewed as a positive signal, especially when large financial investors step in to absorb promoter stake sales.

Company Background

GNG Electronics Ltd., the parent company of Electronics Bazaar, is one of India’s largest refurbishers and providers of information and communication technology (ICT) devices. The company operates in the growing refurbished electronics segment, catering to both domestic and international markets.

Market Takeaway

The block deal reflects a combination of promoter stake dilution and institutional accumulation. While promoter ownership has moderated, the entry of large investors appears to have supported market sentiment, as reflected in the stock’s sharp upward movement.

(With inputs from PTI)