GNG Electronics IPO: Latest GMP Indicates 32% Premium Ahead Of July 23 Launch, Check Key Details
The price band for the GNG Electronics IPO has been set between Rs 225 and Rs 237 per share.
GNG Electronics Ltd. is set to launch its initial public offering (IPO) this week to raise over Rs 450 crore from the primary market. Ahead of the launch, on July 23, the latest GMP for GNG Electronics IPO indicates a premium of more than 32% over the issue price.
The company provides refurbished laptops and desktops to customers.
Investors who want to bid for shares in the IPO can check the following details before applying for shares.
GNG Electronics IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the GNG Electronics IPO stood at Rs 77 as of 11:56 a.m. on July 21. The latest GMP indicates a listing price of Rs 314 apiece at a premium of 32.49% over the upper limit of the issue price.
Note: GMP does not represent official data and is based on speculation.
GNG Electronics IPO: Key Details
The GNG Electronics IPO is a book-building issue worth Rs 460.43 crore. It comprises a fresh issue of 1.69 crore shares, amounting to Rs 400 crore, and an offer-for-sale portion of 26 lakh shares, worth Rs 60.44 crore.
To participate in the IPO, retail investors need to bid for a single lot size of 63 shares, requiring a minimum investment of Rs 14,175. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,034. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to a minimum investment of Rs 10,00,377.
The price band for the IPO has been set between Rs 225 and Rs 237 per share.
Investors can participate in the IPO subsription from July 23 to July 25. GNG Electronics IPO share allotment status is proposed to be finalised on July 28. The company will transfer shares to the Demat accounts of successful bidders on July 29 and refunds for non-allottees will also be processed on the same day.
Shares of GNG Electronics will be listed on the BSE and NSE on July 30.
The Qualified Institutional Buyers (QIBs) will be offered 50% of the net issue. Retail investors will be allocated 35% of the shares and the remaining 15% of the net offer size will be reserved for Non-Institutional Investors (NIIs).
Motilal Oswal Investment Advisors Ltd. is the book-running lead manager of the GNG Electronics IPO. Bigshare Services Pvt. is the registrar for the issue.
About GNG Electronics
GNG Electronics specialises in offering refurbished laptops and desktops to individuals, businesses and organisations. It operates under the brand name Electronics Bazaar. Outside India, the company has a major presence in the United States, Europe, the United Arab Emirates (UAE) and Africa.
Use Of Proceeds
The company will use proceeds from the IPO to clear debt and for general corporate purposes.
Financials
The company reported a 32% year-on-year (YoY) increase in profit after tax (PAT) to Rs 69.03 crore in FY25 from Rs 52.31 crore in FY24. Total income rose 24.2% YoY to Rs 1,420.37 crore in FY25 from Rs 1,143.80 crore in the preceding fiscal. Total expenses grew 23.5% YoY to Rs 1,342.02 crore in FY25 from Rs 1,086.5 crore in the previous financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
