Latest news with #GNG
Economic Times
5 days ago
- Business
- Economic Times
GNG Electronics IPO subscribed over 15x on day 2: GMP rises to 42%
GNG Electronics IPO GMP GNG Electronics IPO details Live Events Should you subscribe? Financials and valuation GNG Electronics IPO key dates Lead managers (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering ( IPO ) of GNG Electronics continued to see strong investor demand on the second day of bidding, with the issue subscribed 15.11 times as of 11:27 AM on company received bids for 21.44 crore shares against 1.41 crore on offer. Non-institutional investors (NIIs) led the demand, subscribing to 34.8 times their quota, while the retail portion was subscribed 14.22 times. The qualified institutional buyer (QIB) segment saw a 1.77 times the grey market, GNG Electronics shares were quoting a premium of Rs 100–105, translating to an estimated 42% upside over the upper end of the price band. The grey market premium (GMP) has edged up from Rs 98–103 a day IPO includes a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore by existing shareholders. The price band is set at Rs 225–237 per share, valuing the company at a P/E of 33.3x based on FY25 of the IPO, the company raised Rs 138 crore from anchor investors on July 22 by allotting over 58 lakh Securities and Canara Bank Securities have both given the issue 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 GNG ElectronicsGNG Electronics, which operates under the Electronics Bazaar brand, is India's largest refurbisher of laptops and desktops. The company scaled up its refurbished volume from 2.5 lakh devices in FY23 to 5.9 lakh in FY25. Its procurement network also expanded from 265 to 557 partners during the same contributed 75.6% of FY25 revenue, with the rest coming from desktops, tablets, smartphones, servers, and other electronics. As of March 2025, GNG had a presence in 38 countries and operated 4,154 customer the past two years, GNG more than doubled its revenue and profit. For FY25, the company reported revenue of Rs 1,411 crore and net profit of Rs 69 crore, up from Rs 659.5 crore and Rs 32.4 crore in FY23. The EBITDA margin improved from 7.6% to 8.9% during the capital rose to Rs 261 crore in FY25, up 2.5x from FY23. Based on FY25 earnings and post-IPO equity, the stock is priced at a P/E multiple of up to 39x. The company has no direct listed peers on the main IPO will remain open from July 23 to July 25, 2025. The allotment is expected to be finalized on Monday, July 28, with a tentative listing date of Wednesday, July 30, on both the BSE and Oswal Investment Advisors Limited is the book-running lead manager to the issue, and Bigshare Services Pvt Ltd is the registrar.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
5 days ago
- Business
- Time of India
GNG Electronics IPO subscribed over 15x on day 2: GMP rises to 42%
GNG Electronics IPO GMP GNG Electronics IPO details Live Events Should you subscribe? Financials and valuation GNG Electronics IPO key dates Lead managers (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering ( IPO ) of GNG Electronics continued to see strong investor demand on the second day of bidding, with the issue subscribed 15.11 times as of 11:27 AM on company received bids for 21.44 crore shares against 1.41 crore on offer. Non-institutional investors (NIIs) led the demand, subscribing to 34.8 times their quota, while the retail portion was subscribed 14.22 times. The qualified institutional buyer (QIB) segment saw a 1.77 times the grey market, GNG Electronics shares were quoting a premium of Rs 100–105, translating to an estimated 42% upside over the upper end of the price band. The grey market premium (GMP) has edged up from Rs 98–103 a day IPO includes a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore by existing shareholders. The price band is set at Rs 225–237 per share, valuing the company at a P/E of 33.3x based on FY25 of the IPO, the company raised Rs 138 crore from anchor investors on July 22 by allotting over 58 lakh Securities and Canara Bank Securities have both given the issue 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 GNG ElectronicsGNG Electronics, which operates under the Electronics Bazaar brand, is India's largest refurbisher of laptops and desktops. The company scaled up its refurbished volume from 2.5 lakh devices in FY23 to 5.9 lakh in FY25. Its procurement network also expanded from 265 to 557 partners during the same contributed 75.6% of FY25 revenue, with the rest coming from desktops, tablets, smartphones, servers, and other electronics. As of March 2025, GNG had a presence in 38 countries and operated 4,154 customer the past two years, GNG more than doubled its revenue and profit. For FY25, the company reported revenue of Rs 1,411 crore and net profit of Rs 69 crore, up from Rs 659.5 crore and Rs 32.4 crore in FY23. The EBITDA margin improved from 7.6% to 8.9% during the capital rose to Rs 261 crore in FY25, up 2.5x from FY23. Based on FY25 earnings and post-IPO equity, the stock is priced at a P/E multiple of up to 39x. The company has no direct listed peers on the main IPO will remain open from July 23 to July 25, 2025. The allotment is expected to be finalized on Monday, July 28, with a tentative listing date of Wednesday, July 30, on both the BSE and Oswal Investment Advisors Limited is the book-running lead manager to the issue, and Bigshare Services Pvt Ltd is the registrar.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
6 days ago
- Business
- Mint
GNG Electronics IPO day 2 Live: GMP jumps, subscription status, review, other details. Should you apply?
GNG Electronics IPO: The initial public offering (IPO) of GNG Electronics Ltd. opened on 23 July 2025 and will remain open until 25 July 2025. The company has declared the GNG Electronics IPO price band at ₹ 225 to ₹ 237 per equity share. The book-build issue is proposed for listing on the BSE and the NSE. The mainboard IPO aims to raise ₹ 460.63 crore out of which ₹ 400 crore is aimed through the issuance of fresh shares. The remaining amount is reserved for the Offer for Sale (OFS) route. According to the GNG Electronics IPO subscription status, the public issue has received a strong response from investors as it got subscribed 8.99 times of its offer. This triggered positive sentiments in the grey market. According to market observers, shares of GNG Electronics Ltd. are available at a premium of ₹ 100 in the grey market today, which is ₹ 17 higher than yesterday's GNG Electronics IPO GMP of ₹ 83. Market observers believe the rise in the grey market sentiment can be attributed to two significant reasons — strong GNG Electronics IPO subscription status and positive feelings in the Indian stock market. After the end of bidding on day one, the book build issue had been booked 8.99 times, the retail portion of the initial offer had been subscribed 8.89 times, the NII segment had been filled 18.85 times, whereas the QIB segment had been booked 1.68 times. Infographic: Courtesy mintgenie Gaurav Goel, Founder & Director at Fynocrat Technologies, assigned a subscribe' tag for long-term, said, "GNG Electronics has emerged as a dominant player in a niche, fast-growing industry. It benefits from strong industry tailwinds, a scalable global business model, and leadership in the organised refurbishing space. While the IPO is fully valued and listing gains may be moderate, the company's structural advantages and long-term growth prospects remain attractive. Well-informed investors with a medium to long-term investment horizon may consider subscribing to this IPO. GNG is well-positioned to ride the ESG and affordability wave in IT hardware." Giving a 'subscribe' tag to the public issue, Anshul Jain, Head of Research at Lakshmishree Investment, said, "GNG has shown strong financials, with FY25 revenue rising to ₹ 1,411 crore and profit after tax at ₹ 69 crore. Over the last two years, the company has clocked a ~46% revenue CAGR, driven by its leadership in global ICT refurbishment and its sustainability certifications. However, the business heavily relies on laptop refurbishing, which comprises over 75% of FY25 revenue. It also faces risks related to pricing pressures on key components and market competition. Despite these challenges, GNG's solid growth, profitability, and niche position make it attractive, and one can apply for the mainboard IPO for the long term." The GNG Electronics IPO opened on 23 July 2025 and will remain open until 25 July 2025. It has a price band of ₹ 225 to ₹ 237 per share and a retail lot size of 63 shares (minimum investment ~ ₹ 14,931). The ₹ 460.43 crore issue includes ₹ 400 crore of fresh equity and ₹ 60.43 crore via offer-for-sale. Allotment is expected on July 28, with listing tentatively set for July 30. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
6 days ago
- Business
- Economic Times
GNG Electronics IPO sails through within 1 hour of bidding; NII portion subscribed 3x
Live Events Should You Subscribe? About the Company Financials and Valuation Key Dates IPO open: July 23 to July 25, 2025 Allotment date: Monday, July 28 Tentative listing: Wednesday, July 30 (BSE & NSE) Lead Managers (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering (IPO) of GNG Electronics was fully subscribed within the first hour of opening on Wednesday, driven by strong demand from non-institutional investors (NIIs) and retail of 11:06 a.m., the issue was subscribed 1.6 times overall. The NII category saw 2.96 times subscription, while the retail portion received 1.91 times the allotted bids. Qualified Institutional Buyers (QIBs) had subscribed to 3% of their quota so the grey market, GNG Electronics shares were quoting at a premium of Rs 98–103, indicating a potential 41% upside over the upper end of the price IPO comprises a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore by existing shareholders. The price band is fixed at Rs 225–237 per share, translating to a P/E ratio of 33.3x based on FY25 of the IPO, the company raised Rs 138 crore from anchor investors on July 22 by allocating over 58 lakh Securities and Canara Bank Securities have both given a "Subscribe" rating, citing the company's scale, growth momentum, 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 Electronics is India's largest refurbisher of laptops, desktops, and other devices under the Electronics Bazaar brand. The company scaled its refurbished device volumes to 5.9 lakh units in FY25, up from 2.5 lakh in FY23. Its procurement partner network also expanded from 265 to 557 in the same contributed 75.6% of FY25 revenue, with the rest coming from desktops, tablets, servers, smartphones, and other electronics. GNG has a global presence across 38 countries and operates with 4,154 customer touchpoints as of March Read | Eternal share price target goes up to Rs 400! What brokerages said after Q1 results GNG Electronics more than doubled its revenue and profit in two years. It reported revenue of Rs 1,411 crore and net profit of Rs 69 crore in FY25, compared to Rs 659.5 crore and Rs 32.4 crore in FY23, respectively. Its EBITDA margin improved to 8.9% from 7.6% during this working capital surged to Rs 261 crore in FY25, 2.5 times higher than in FY23. Based on FY25 earnings and post-IPO equity, the company is valued at a P/E multiple of up to 39. GNG currently has no directly listed peer on the main Oswal Investment Advisors Ltd is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar to the issue.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
7 days ago
- Business
- Time of India
GNG Electronics IPO sails through within 1 hour of bidding; NII portion subscribed 3x
The initial public offering (IPO) of GNG Electronics was fully subscribed within the first hour of opening on Wednesday, driven by strong demand from non-institutional investors (NIIs) and retail investors. As of 11:06 a.m., the issue was subscribed 1.6 times overall. The NII category saw 2.96 times subscription, while the retail portion received 1.91 times the allotted bids. Qualified Institutional Buyers (QIBs) had subscribed to 3% of their quota so far. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking healthcare Public Policy Artificial Intelligence others Healthcare Data Science Data Analytics Project Management Finance Operations Management MCA MBA Product Management Data Science Others Leadership Cybersecurity Degree PGDM CXO Digital Marketing Technology Management Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details In the grey market, GNG Electronics shares were quoting at a premium of Rs 98–103, indicating a potential 41% upside over the upper end of the price band. The IPO comprises a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore by existing shareholders. The price band is fixed at Rs 225–237 per share, translating to a P/E ratio of 33.3x based on FY25 earnings. Ahead of the IPO, the company raised Rs 138 crore from anchor investors on July 22 by allocating over 58 lakh shares. Live Events Should You Subscribe? SBI Securities and Canara Bank Securities have both given a "Subscribe" rating, citing the company's scale, growth momentum, 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 noted. About the Company GNG Electronics is India's largest refurbisher of laptops, desktops, and other devices under the Electronics Bazaar brand. The company scaled its refurbished device volumes to 5.9 lakh units in FY25, up from 2.5 lakh in FY23. Its procurement partner network also expanded from 265 to 557 in the same period. Laptops contributed 75.6% of FY25 revenue, with the rest coming from desktops, tablets, servers, smartphones, and other electronics. GNG has a global presence across 38 countries and operates with 4,154 customer touchpoints as of March 2025. Also Read | Eternal share price target goes up to Rs 400! What brokerages said after Q1 results Financials and Valuation GNG Electronics more than doubled its revenue and profit in two years. It reported revenue of Rs 1,411 crore and net profit of Rs 69 crore in FY25, compared to Rs 659.5 crore and Rs 32.4 crore in FY23, respectively. Its EBITDA margin improved to 8.9% from 7.6% during this period. However, working capital surged to Rs 261 crore in FY25, 2.5 times higher than in FY23. Based on FY25 earnings and post-IPO equity, the company is valued at a P/E multiple of up to 39. GNG currently has no directly listed peer on the main board. Key Dates IPO open: July 23 to July 25, 2025 Allotment date: Monday, July 28 Tentative listing: Wednesday, July 30 (BSE & NSE) Lead Managers Motilal Oswal Investment Advisors Ltd is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar to the issue.
