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Time of India
4 days ago
- Business
- Time of India
GNG Electronics IPO subscribed over 102x on day 3; GMP signals strong listing
GNG Electronics IPO GMP GNG Electronics IPO Details Live Events Should You Subscribe? Financials and Valuation GNG Electronics IPO Key Dates Lead Managers About GNG Electronics (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering (IPO) of GNG Electronics witnessed robust demand on the third and final day of bidding, with the issue subscribed 102.06 times as of 2:33 PM on company received bids for 144.8 crore shares against 1.41 crore shares on offer. Non-institutional investors (NIIs) led the demand with a 203.72 times subscription, followed by retail investors at 40.57 times. The qualified institutional buyer (QIB) segment saw a 133.73 times the grey market, GNG Electronics shares were quoting a premium of Rs 96–100, implying a potential 41% gain over the upper end of the price band. However, the grey market premium (GMP) slipped slightly from Rs 100–105 a day IPO comprises a fresh issue of Rs 400 crore and an offer for sale (OFS) worth Rs 60.44 crore by existing shareholders. The price band is set at Rs 225–237 per share, valuing the company at a price-to-earnings (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 allotting over 58 lakh Securities and Canara Bank Securities have both given GNG Electronics a 'Subscribe' rating, citing its scale, growth trajectory, and strategic positioning.'GNG operates in a fragmented but fast-formalising market. With operations in 38 countries, refurbishment of over 5.9 lakh devices in FY25, and a 46% revenue CAGR over FY23–FY25, the company is well-positioned to benefit from affordability-driven demand and ESG tailwinds,' the brokerages more than doubled its revenue and profit in the past two years. In FY25, revenue rose to Rs 1,411 crore and net profit stood at Rs 69 crore, up from Rs 659.5 crore and Rs 32.4 crore in FY23. EBITDA margin also improved from 7.6% to 8.9%.Working capital increased to Rs 261 crore in FY25, a 2.5x jump from FY23. Based on FY25 earnings and post-issue equity, the stock is priced at a P/E of up to 39x. The company currently has no direct listed peer 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 BSE and Oswal Investment Advisors Limited is the book-running lead manager to the issue, and Bigshare Services Pvt Ltd is the 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 grew 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 touchpoints.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
6 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
6 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)
Economic Times
23-06-2025
- Business
- Economic Times
Ahead of IPO, Ellenbarrie Industrial Gases raises Rs 256 crore from anchor investors
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel New Delhi, Ellenbarrie Industrial Gases on Monday said it has raised Rs 256 crore from anchor investors, a day ahead of the launch of its initial share sale for public Mutual Fund (MF), Axis MF, Bandhan MF, Tata MF, Motilal Oswal MF, Nippon India MF, HDFC Life Insurance , British multinational Prudential through Eastspring Investments, ICICI Lombard General Insurance, Citigroup Global Markets Mauritius, and Copthall Mauritius Investment, among others, have been allotted shares in the anchor to a circular uploaded on BSE's website, Ellenbarrie Industrial Gases allocated a little over 63.93 lakh equity shares to 28 entities at Rs 400 per share, which is the upper end of the IPO price Rs 852-crore initial public offering (IPO) will open for public subscription on June 24 and conclude on June 26. The price band has been set at Rs 380-400 per share for the initial public offer is a combination of a fresh issue of shares worth Rs 400 crore and an offer for sale (OFS) of 1.13 crore shares valued at Rs 452.53 crore at the upper end of the price band by promoters - Padam Kumar Agarwala and Varun Agarwal. This aggregates the issue size to Rs 852.53 from the fresh issue to the extent of Rs 210 crore will be used for payment of debt, Rs 104.50 crore to set up an air separation unit at its Uluberia-II plant in West Bengal, and a portion will be used for general corporate manufactures and supplies industrial gases, dry ice, synthetic air, fire-fighting gases, medical oxygen, liquid petroleum gas, welding mixtures, and speciality gases catering to a wide range of company's revenue from operations increased 16 per cent to Rs 312.48 crore in FY25 from Rs 269.48 crore in the preceding profit after tax surged by 84 per cent to Rs 83.29 crore in the 2024-25 financial year against Rs 45.29 crore in the year-ago investors can bid for a minimum of 37 shares and multiples shares of the company will be listed on the BSE and Oswal Investment Advisors, IIFL Capital Services , and JM Financial are the book-running lead managers, and KFin Technologies is the registrar of the issue.
Time of India
23-06-2025
- Business
- Time of India
Ahead of IPO, Ellenbarrie Industrial Gases raises Rs 256 crore from anchor investors
Ellenbarrie Industrial Gases secured Rs 256 crore from anchor investors. The IPO will open on June 24 and close on June 26, with a price band of Rs 380-400 per share. The IPO includes a fresh issue and an offer for sale by promoters. Funds will be used for debt payment and expansion. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi, Ellenbarrie Industrial Gases on Monday said it has raised Rs 256 crore from anchor investors, a day ahead of the launch of its initial share sale for public Mutual Fund (MF), Axis MF, Bandhan MF, Tata MF, Motilal Oswal MF, Nippon India MF, HDFC Life Insurance , British multinational Prudential through Eastspring Investments, ICICI Lombard General Insurance, Citigroup Global Markets Mauritius, and Copthall Mauritius Investment, among others, have been allotted shares in the anchor to a circular uploaded on BSE's website, Ellenbarrie Industrial Gases allocated a little over 63.93 lakh equity shares to 28 entities at Rs 400 per share, which is the upper end of the IPO price Rs 852-crore initial public offering (IPO) will open for public subscription on June 24 and conclude on June 26. The price band has been set at Rs 380-400 per share for the initial public offer is a combination of a fresh issue of shares worth Rs 400 crore and an offer for sale (OFS) of 1.13 crore shares valued at Rs 452.53 crore at the upper end of the price band by promoters - Padam Kumar Agarwala and Varun Agarwal. This aggregates the issue size to Rs 852.53 from the fresh issue to the extent of Rs 210 crore will be used for payment of debt, Rs 104.50 crore to set up an air separation unit at its Uluberia-II plant in West Bengal, and a portion will be used for general corporate manufactures and supplies industrial gases, dry ice, synthetic air, fire-fighting gases, medical oxygen, liquid petroleum gas, welding mixtures, and speciality gases catering to a wide range of company's revenue from operations increased 16 per cent to Rs 312.48 crore in FY25 from Rs 269.48 crore in the preceding profit after tax surged by 84 per cent to Rs 83.29 crore in the 2024-25 financial year against Rs 45.29 crore in the year-ago investors can bid for a minimum of 37 shares and multiples shares of the company will be listed on the BSE and Oswal Investment Advisors, IIFL Capital Services , and JM Financial are the book-running lead managers, and KFin Technologies is the registrar of the issue.
