GNG Electronics IPO opens with robust 44% GMP. Should you subscribe?
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
GNG Electronics kicked off its IPO today aiming to raise Rs 460 crore through a combination of fresh issue and offer for sale. Riding on strong financials and investor interest, the IPO is debuting with a notable grey market premium (GMP) of 44%, indicating a healthy appetite.The issue comprises a fresh equity raise of Rs 400 crore and an offer for sale worth Rs 60.44 crore by existing shareholders. The IPO is priced in the range of Rs 225–237, translating to a P/E of 33.3x on FY25 earnings.Ahead of the issue, the company raised Rs 138 crore from anchor investors on July 22, allocating over 58 lakh shares.GNG Electronics is a prominent player in the refurbished ICT (Information and Communication Technology) device segment. The company operates under the brand 'Electronics Bazaar' and offers end-to-end lifecycle solutions — from sourcing to refurbishment, distribution, after-sale service, and buyback programs.Its clients include major retail and OEM brands such as Vijay Sales, HP, and Lenovo.Financially, GNG has reported strong growth. Revenue rose 24% year-on-year to Rs 1,420 crore in FY25, while profit after tax jumped 32% to Rs 69 crore.Proceeds from the issue will be primarily used to repay outstanding borrowings of the company and its UAE-based subsidiary, Electronics Bazaar FZC, with Rs 320 crore allocated for this purpose. The balance will go toward general corporate purposes. Motilal Oswal is the sole book-running lead manager and Bigshare Services is the registrar.With a sharp rise in digital adoption and demand for cost-effective computing devices, GNG Electronics is looking to scale up its operations and reinforce its leadership in the growing refurbished electronics market SBI Securities and Canara Bank Securities have both given it a "Subscribe" rating, citing scale, growth, and strategic positioning."GNG operates in a fragmented but fast-formalising market. With operations in 38 countries, refurbishing over 5.9 lakh devices in FY25, and a 46% revenue CAGR over FY23–FY25, the company is well-poised to benefit from affordability-driven demand and ESG tailwinds," the brokerages said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
38 minutes ago
- Time of India
Investment intent of Rs 7,808cr at textile summit
1 2 3 4 5 Bhubaneswar: State govtsigned 33 memoranda of understanding with investment intent of Rs 7,808 crore and the potential to create jobs for over 53,300 people in the textile and apparel sector during the inaugural session of Odisha Tex 2025 investment summit here on Friday. Inaugurating the summit, chief minister Mohan Charan Majhi said, "Odisha is going to be the textile hub of eastern India. Odisha TEX 2025 is not just an event, it is a declaration that Odisha is ready to lead eastern India's textile revolution." The strategic move is set to transform Odisha into a hub for apparel and technical textiles, with participation from more than 160 companies, including industry giants like Page Industries, First Step Baby Wear, KPR Mills and Sportking. Among the MoUs, Hindalco Industries Limited will invest Rs 200 crore to set up apparel manufacturing units in Keonjhar and Sambalpur districts. The two units have the potential to create direct employment for 2,400 people, official sources said. Majhi announced an increase in employment cost subsidy under the Odisha Technical Textile & Apparel Policy 2022, raising it from Rs 5,000 to Rs 6,000 per month for male workers and from Rs 6,000 to Rs 7,000 per month for female workers. He announced the formation of a dedicated task force under the industries department to ensure fast-track implementation and full govt support for investors. "Odisha offers the most attractive incentive packages in the country under its Industrial Policy Resolution 2022 and the Odisha Apparel & Technical Textiles Policy 2022, backed by excellent infrastructure and governance," said the CM. Besides, two state-of-the-art textile and footwear parks with plug-and-play facilities for global standard manufacturing were launched, and modern workers' hostels to enhance industrial stability were announced. The govt also signed MoUs for skill development, enabling youth and especially women, to gain expertise in automated garmenting, textile machinery and wearable technologies. The CM also announced an ambitious vision to create over 1 lakh jobs in textiles and apparel by 2030, with plans to expand new textile clusters in Balangir, Keonjhar, Sambalpur, Jagatsinghpur, Ganjam and Cuttack. The event, organised by the state govt, attracted over 650 delegates, including global brands, leading textile and apparel companies, investors, technology providers, startups and senior govt officials. The CM also declared that Odisha Tex will become an annual event, showcasing the state's rich handloom legacy and its foray into modern textiles, apparel, and technical textiles ecosystems. Industries minister Sampad Chandra Swain, minister for handloom, textiles and handicrafts, Pradeep Bal Samant, Chief secretary Manoj Ahuja, development commissioner Anu Garg, and industries secretary Hemant Sharma, among others, were present.
Time of India
an hour ago
- Time of India
Chilla elevated road much delayed, now pillar steel found subpar
Noida: A long-delayed infrastructure project meant to ease traffic between Delhi and Noida has come under fresh scrutiny after the Noida Authority flagged the use of substandard steel in its construction. The quality of steel used in the Rs 893-crore Chilla Elevated Road, under construction by the Uttar Pradesh State Bridge Corporation Limited (UPSBCL), was flagged during a recent review by Noida Authority. The inspection revealed that a non-approved grade of steel was being used in the piling work for the project. On Friday, CEO Lokesh M expressed dissatisfaction with the UPSBCL for using substandard steel in the pillars and issued a notice to the construction agency, directing it to replace the material with the approved grade of steel. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida UPSBCL general manager Sandeep Gupta told TOI that the particular brand of steel being used is an NHAI-approved supplier listed under national specifications. "The steel used meets the required BIS standard for high-strength deformed bars used in reinforced concrete and is compliant with IRC and MORTH specifications applicable to the project," Gupta said. He added that the brand is widely accepted and used by other public sector undertakings, including the Indian Railways, UP PWD, and the Greater Noida Authority. He also said that regular third-party lab testing is conducted to verify the steel's mechanical and chemical properties, and test reports are available for review. UPSBCL, however, has assured the Noida Authority that it will discontinue use of the current steel brand. Going forward, only materials from reputed suppliers such as SAIL, TATA, RINL, or JSPL will be used for the rest of the work. While only 6% of fresh work has been completed since construction resumed in March this year, the overall progress stands at approximately 20%, including earlier work done before the project stalled in 2021. The six-lane, 5.9-km elevated corridor aims to connect the Chilla Regulator near Mayur Vihar to the Mahamaya Flyover in Noida, offering relief to thousands of daily commuters who currently face up to an hour of congestion along the Delhi-Noida Link Road. First proposed in 2012 and inaugurated by chief minister Yogi Adityanath in 2019, the Chilla elevated road has faced years of delay due to funding bottlenecks, the relocation of a GAIL gas pipeline, and the Covid pandemic. No construction took place between 2021 and early 2025. The project resumed only after MG Contractors was appointed in December 2024, having submitted the lowest bid—7% below the estimated cost. Once completed, the corridor is expected to significantly ease congestion near Film City, Sector 14A/15A, and improve access to Greater Noida, Kalindi Kunj, and Faridabad.
India Today
an hour ago
- India Today
Rubio praises Pak's ‘partnership in countering terrorism' after meeting Ishaq Dar
US Secretary of State Marco Rubio met with Pakistan's Deputy Prime Minister and Foreign Minister, Ishaq Dar, in Washington on Friday. The two leaders held wide-ranging talks on strengthening bilateral ties, trade cooperation, and regional to X, Rubio said he thanked Dar for 'Pakistan's partnership in countering terrorism and preserving regional stability.' The leaders also discussed ways to expand bilateral trade and deepen collaboration in the critical minerals and mining with Pakistani Deputy Prime Minister and Foreign Minister @MIshaqDar50 today to discuss expanding bilateral trade and enhancing collaboration in the critical minerals sector. I also thanked him for Pakistan's partnership in countering terrorism and preserving regional Secretary Marco Rubio (@SecRubio) July 25, 2025advertisementAccording to US State Department spokesperson Tammy Bruce, Secretary Rubio expressed appreciation for 'Pakistan's continued willingness to play a constructive role in mediating conversations with Iran and its commitment to preserving regional stability.' The two sides also discussed plans for the upcoming US-Pakistan Counterterrorism Dialogue set to be held in Islamabad this August. The talks included enhancing cooperation against terror groups such as ISIS-K, as both nations seek to broaden counterterrorism efforts in the Rubio stressed the importance of 'expanding mutually beneficial bilateral trade' and exploring future opportunities for joint work in the minerals sector, an area gaining strategic significance amid growing global demand for critical to Arab News, Ishaq Dar is on an eight-day visit to the US, during which he chaired multiple United Nations Security Council (UNSC) meetings as part of Pakistan's rotating presidency this meeting comes just days after Rubio announced that the United States would designate The Resistance Front (TRF), a front for the Pakistan-based terror group Lashkar-e-Taiba (LeT), as both a Foreign Terrorist Organization (FTO) and a Specially Designated Global Terrorist (SDGT).TRF had claimed responsibility for the April 22 terror attack in Jammu and Kashmir's Pahalgam, which killed 26 people.- EndsTune InMust Watch
