GNG Electronics IPO Subscribed 26.93 Times On Day 2
The IPO share allotment will be finalised by July 28. Shares of GNG Electronics will debut on the BSE and NSE on July 30.

GNG Electronics Ltd.'s initial public offering opened for second day of subscription on Thursday. The company is looking to raise up to Rs 460 crore.
The company, which operates under the brand Electronics Bazaar, has offered shares in the range of Rs 225-237 apiece. The IPO consists of a fresh issue of shares worth Rs 400 crore and an offer for sale of up to 25.5 lakh shares amounting to Rs 60 crore. The market value of GNG Electronics at the upper end of the price band is Rs 2,702 crore.
The IPO share allotment will be finalised by July 28. Shares of GNG Electronics will debut on the BSE and NSE on July 30.
Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd. and JM Financial Ltd. are the book running lead managers for the IPO.
GNG Electronics raised Rs 138 crore from anchor investors on Tuesday ahead of its initial public offering. The investors include Motilal Oswal, Mirae Asset, Edelweiss, and Goldman Sachs.
IPO Details
Issue opening: July 23-25
Issue Price: Rs 225-237
Fresh Issue: Rs 400 crore
OFS: Rs 60.4 crore
Total Issue Size: Rs 460.44 crore
Market Value at upper end of price band: Rs 2702.10 crore
Lot Size: 63 shares
About GNG Electronics
Mumbai-based GNG Electronics refurbishes laptops, desktops, and other ICT devices and has a significant presence across India, the US, Europe, Africa, and the UAE.
The company follows a repair-over-replacement approach, which provides cost advantages and helps achieve sustainability by reducing carbon footprint.
IPO Day One Subscription Status
The GNG Electronics IPO has been subscribed 26.93 times as of 5 p.m. on Thursday.
Qualified Institutional Buyers: 2.21 times
Non-Institutional Investors: 68.70 times
Retail Investors: 23.02 times
GNG Electronics IPO GMP
The grey market premium for GNG Electronics IPO stood at Rs 100 per share at 6:32 p.m. on July 24. With the upper price band for the IPO set at Rs 237 apiece, the GMP indicates an estimated listing price of Rs 337 per share, according to InvestorGain.
Current GMP trends show an estimated listing gain of 42.19% over the upper limit of the issue price.
It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.