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GNG Electronics posts bumper debut on bourses; shares list at 50% premium
GNG Electronics shares listed at a slightly lower premium of ₹113 per share or nearly 47.68 per cent at ₹350 per share on the BSE.
GNG Electronics IPO listing outperformed the grey market estimates. Ahead of their D-Street debut, the unlisted shares of GNG Electronics were trading at ₹327 per share, reflecting a grey market premium (GMP) of ₹90 or 37.97 percent over the issue price, according to sources tracking unofficial market activity.
GNG Electronics IPO details
GNG Electronics IPO comprised a fresh issue of 17 million equity shares worth ₹400 crore, and an offer for sale (OFS) with promoters Sharad Khandelwal, Vidhi Sharad Khandelwal, and Amiable Electronics Private Limited divesting up to 2.67 million equity shares, aggregating up to ₹60.44 crore. It was available at a price band of ₹225-237 per share, with a lot size of 63 equity shares from July 23 till July 25, 2025.
The public offering received an overwhelming response from the investors with it getting oversubscribed by 147.93 times riding on the back of the qualified institutional buyers (QIBs), who subscribed 266.21 times the portion reserved for them. The basis of allotment was finalized on July 28, 2025. The company has set the issue price at ₹237 per share.
GNG Electronics, on its red herring prospectus (RHP), has said that it will not receive any proceeds from the OFS, as those will go to the selling promoters. The company, however, proposes to utilise the proceeds from the fresh issue for the prepayment and/or repayment, in full or in part, of certain outstanding borrowings availed by the company and its material subsidiary, Electronics Bazaar FZC. GNG Electronics will further use the proceeds for general corporate purposes.
About GNG Electronics
Incorporated in 2006, GNG Electronics is India's largest refurbisher of laptops and desktops and among the largest refurbishers of ICT devices overall, both globally and in India, with significant presence across India, USA, Europe, Africa, and UAE, in terms of value, as of March 31, 2025.
The company operates under the brand 'Electronics Bazaar,' with presence across the full refurbishment value chain, i.e., from sourcing to refurbishment to sales, to after–sales services and providing warranty.
As of March 31, 2025, the company has a comprehensive portfolio of 5,840 SKUs.
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