GNG Electronics IPO: Price Band Set At Rs 225-237 Per Share
GNG Electronics will launch its IPO anchor book for institutional investors on July 22 and bidding in the primary market will be done between July 23 and 25.
GNG Electronics Ltd., which operates under the brand 'Electronics Bazaar', on Friday set the price band for its initial public offering of shares worth Rs 460 crore, opening next week. The shares will be offered for bidding in the range of Rs 225-237 apiece.
The company applied for an IPO with the market regulator SEBI in March and received approval in June. The IPO will comprise a fresh issue of Rs 400 crore and an offer-for-sale component of up to 51 lakh shares, as per the draft red herring prospectus.
The market value at the upper end of the price band is Rs 2,702 crore.
Promoters Sharad Khandelwal and Vidhi Sharad Khandelwal will offload 35,000 shares via the OFS route. They each own 18.5% equity. Amiable Electronics Pvt., which owns 57.29% stake, will sell the rest 50.03 lakh shares.
Proceeds from the fresh issue up to Rs 320 crore will be used to reduce debt, and the rest to meet general corporate purposes.
GNG Electronics will launch its IPO anchor book for institutional investors on July 22 and bidding in the primary market will be done between July 23 and 25.
The IPO share allotment will be finalised by July 29. GNG Electronics shares will debut on the BSE and NSE on July 30.
The company has tapped Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd. and JM Financial Ltd. as book running lead managers.
About GNG Electronics
Mumbai-based GNG Electronics refurbishes laptops, desktops, and other ICT devices with a significant presence across India, the US, Europe, Africa, and the UAE. It operates under the brand 'Electronics Bazaar.'
The company follows a repair-over-replacement approach, which provides cost advantages and helps achieve sustainability by reducing carbon footprint.
The company's revenue from operations rose 24% to Rs 1,411.1 crore, and net profit jumped 32% to Rs 69 crore in fiscal 2025. Nearly 68% of its topline is derived from the sale of laptops. India contributed to Rs 467 crore in sales compared to Rs 660 crore from abroad.
As of September 2024, the total borrowings stood at nearly Rs 500 crore.
