GNG Electronics Limited, the parent company of Electronics Bazaar, is set to debut on the stock market with its Book Built Issue IPO worth ₹460.44 Crores. Known for its focus on high-quality refurbished laptops and desktops, the company aims to redefine accessibility to sustainable technology for individuals, businesses, and institutions alike.

With a proven track record in the information and communication technology (ICT) sector, GNG Electronics is leveraging this IPO to fuel its expansion and reduce its debt burden. Here’s a detailed breakdown of everything you need to know about the GNG Electronics IPO.

IPO Details: Issue Size, Price Band, Lot Size, and Dates

The GNG Electronics IPO is a Book Built Issue with a total issue size of ₹460.44 Crores. This consists of:

• Fresh Issue: ₹400.00 Crores (168.77 Lakh shares)

• Offer for Sale (OFS): ₹60.44 Crores (25.50 Lakh shares)

The IPO opens on July 23, 2025, and closes on July 25, 2025. The basis of allotment is expected to be finalized on Monday, July 28, 2025, and the listing is scheduled for Wednesday, July 30, 2025, on both BSE and NSE.

The price band is fixed between ₹225 to ₹237 per equity share.

The lot size for retail investors is 63 shares, meaning the minimum investment amount is ₹14,931. For High-Net-Worth Individuals (HNIs), the minimum bid is 14 lots (882 shares), amounting to ₹2,09,034.

Market Capitalisation and Registrar Details

At the upper end of the price band of ₹237, the post-issue market capitalization of GNG Electronics will stand at approximately ₹2,702.07 Crores.

The registrar for this IPO is Bigshare Services Private Limited, ensuring a smooth process for allotment and application tracking.

Book Running Lead Managers (BRLMs)

The IPO is managed by the following Book Running Lead Managers:

• Motilal Oswal Investment Advisors Limited

• IIFL Capital Services Limited (formerly known as IIFL Securities Limited)

• JM Financial Limited

These reputable firms ensure sound due diligence and smooth operations during the public issue.

Grey Market Premium (GMP) Insight

As of July 21, 2025, the Grey Market Premium (GMP) for GNG Electronics IPO is ₹43, indicating a potential listing price of ₹280 (approx.), or a gain of 18.14% over the upper price band of ₹237.

Note: While GMP provides an indicative sentiment of demand, it is unofficial, unregulated, and speculative in nature. Investors are advised to treat it purely for informational purposes and not for making investment decisions.

IPO Live Subscription Status (as of July 25, 2025)

As per data available at 11:30 AM on the final day, the IPO has been subscribed 14.37 times, showcasing strong investor demand across all categories.

Anchor Investment Ahead of Public Issue

GNG Electronics successfully raised ₹138.13 Crores from Anchor Investors on July 22, 2025, at ₹237 per share. A total of 58,28,290 equity shares were allocated to marquee investors. This pre-IPO fundraise shows strong institutional confidence in the business.

Financial Performance Snapshot

GNG Electronics has displayed consistent financial growth, backed by a strong leadership team and scalable business model. Below are key financial highlights:

The EBITDA margin and net profitability have improved over the years, reflecting operational efficiency and business scalability.

Key Ratios and Valuation Metrics

• Pre-Issue EPS (FY24): ₹7.09

• Post-Issue EPS (FY24): ₹6.04

• Pre-Issue P/E Ratio: 33.42x

• Post-Issue P/E Ratio: 39.26x

• Return on Equity (ROE): 30.40%

• Return on Capital Employed (ROCE): 17.31%

• Return on Net Worth (RoNW): 30.40%

These metrics indicate that the issue is fairly priced to fully priced, reflecting investor optimism.

Objects of the Issue

GNG Electronics aims to utilize the net proceeds from the IPO towards the following:

1. Repayment or prepayment of certain borrowings taken by GNG Electronics and its material subsidiary Electronics Bazaar FZC, amounting to ₹3,200.00 Million.

2. General corporate purposes, to support business growth and operations.

This objective indicates a deleveraging strategy, which will improve the company’s financial stability and reduce interest burdens.

Promoter and Leadership

Sharad Khandelwal, the Founder and Promoter, has 29 years of experience in the ICT domain. Under his leadership, the company has pivoted towards refurbished technology, targeting sustainability and affordability. His vision is aligned with the ‘Digital India’ and ‘Make in India’ initiatives.

Strengths of GNG Electronics

• Leading market player in refurbished laptops and desktops in India

• Strong brand recall via Electronics Bazaar

• Robust supply chain and distribution network

• Tech-enabled sales platforms, aiding customer reach and convenience

• Environment-friendly model promoting reuse and circular economy

Risks and Concerns

Despite the strengths, investors should also be aware of:

• Unregulated refurbished market with variable product quality standards

• Dependence on imports for hardware components

• Intense competition from OEMs and organized players in electronics retail

• Price sensitivity in B2C markets

IPO Allotment and Listing Timeline

• IPO Opens: July 23, 2025

• IPO Closes: July 25, 2025

• Basis of Allotment: July 28, 2025 (Monday)

• Listing Date: July 30, 2025 (Wednesday)

How to Check GNG Electronics IPO Allotment Status

To check the allotment status, follow these steps:

1. Visit the Registrar’s Website (Bigshare Services Private Limited).

2. Select GNG Electronics Limited IPO from the drop-down list.

3. Enter your Application Number, PAN, or DP/Client ID.

4. Click Submit to view your status.

GNG Electronics IPO Review & Recommendation

Considering the company’s strong financial growth, robust demand in the grey market, and its position as a tech-enabled player in the refurbished electronics segment, the IPO presents an opportunity for listing gains.

Recommendation: ✅ Apply for Listing Gains

However, due diligence is necessary. Investors with long-term risk appetite can consider holding post-listing depending on the business expansion outlook.

Disclaimer

The information provided here is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to invest. The views are general in nature and may not suit individual investment profiles. Readers are advised to consult registered financial advisors before making investment decisions.

The Upcoming IPOs in this week and coming weeks are M&B Engineering, Cash Ur Drive Marketing, Renol Polychem, Jyoti Global Plast, Takyon Networks, Mehul Colours, Aditya Infotech, Sri Lotus Developers & Realty, Lakshmi India Finance, Jyoti Global Plast, B.D. Industries (Pune), Kaytex Fabrics, Umiya Mobile, Repono, NSDL.

The Current active IPO are Shree Refrigerations, Sellowrap Industries, Shanti Gold International, Patel Chem Specialities, Brigade Hotel Ventures, Indiqube Spaces, GNG Electronics, TSC India.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.