GNG Electronics Limited has launched its IPO, offering shares at Rs 225-227, with plans to raise Rs 460.63 crore to pay debts and fund operations. The company is a leading refurbisher of ICT devices.
The initial public offering of GNG Electronics Limited opens today for the public. The Rs 460.63-crore IPO is priced at Rs 225-227 per share and closes on Friday.The IPO comprises a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 25.50 lakh shares, worth Rs 60.44 crore. Investors can apply in lots of 63 shares.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Proceeds from the fresh issue will be utilised for debt payment, funding working capital requirements, and for general corporate purposes.
As part of the IPO, the company raised ₹138.13 Crore from 14 anchor investors at the upper end of the price band of ₹237 per equity share by allotting 58,28,290 equity shares on Tuesday. Out of the total allocation of 58,28,290 Equity Shares to the Anchor Investors, 22,96,104 Equity Shares(i.e. 39.40% of the total allocation to Anchor Investors) were allocated to 3 domestic mutual funds through a total of 4 schemes.
Investors include Goldman Sachs, Mirae Asset MF, Motilal Oswal MF, Edelweiss MF, Buoyant Opportunities Strategy, and marquee investors like Ashish Kacholia’s Bengal Finance, Madhusudan Kela’s Founder Collective Fund and Mint Focused Growth Fund, to name a few.
GNG Electronics is one of the leading refurbishers of laptops and desktops with significant presence across India, the US, Europe, Africa, and the UAE.
The company operates under the brand “Electronics Bazaar,” with a presence across the full refurbishment value chain, from sourcing to refurbishment, sales, and after-sales services, as well as warranty provision.
The company’s comprehensive refurbishment process for ICT devices, including laptops, desktops, tablets, servers, premium smartphones, mobile workstations, and accessories, ensures that these devices are similar to new in terms of both performance and aesthetics.
Besides, the company can offer laptops at one-third the price of new devices, as well as other devices like desktops, tablets, servers, premium smartphones, mobile workstations, and accessories at 35-50 per cent of the price of new devices.
Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited and JM Financial Limited are the bankers for the issue.
Published on July 23, 2025
