GNG Electronics IPO
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Schedule of GNG Electronics
| Issue open date | 23 Jul 2025 |
| Issue close date | 25 Jul 2025 |
| UPI mandate deadline | 25 Jul 2025 (5 PM) |
| Allotment finalization | 28 Jul 2025 |
| Refund initiation | 29 Jul 2025 |
| Share credit | 29 Jul 2025 |
| Listing date | 30 Jul 2025 |
| Mandate end date | 11 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 27 Aug 2025 |
| Lock-in end date for anchor investors (remaining) | 26 Oct 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About GNG Electronics
GNG Electronics, established in 2006 and headquartered in Mumbai, India, is a leading player in the refurbishment of Information and Communication Technology (ICT) devices. Operating under the brand “Electronics Bazaar,” the company specializes in refurbishing laptops, desktops, tablets, servers, smartphones, and related accessories. With a significant presence across India, the USA, Europe, Africa, and the UAE, GNG Electronics has positioned itself as India’s largest Microsoft-authorized refurbisher and a certified partner for global brands like HP and Lenovo. The company’s end-to-end refurbishment process encompasses sourcing, refurbishing, sales, after-sales services, and warranty provisions, aligning with global sustainability goals by reducing e-waste.
Financials of GNG Electronics
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹460.43 crores |
| Fresh Issue | ₹400 crores |
| Offer for sale | ₹60.43 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and the Material Subsidiary namely, Electronics Bazaar FZC | 320 (80%) |
| General corporate purposes |
Strengths
- India’s largest refurbisher of laptops and desktops, with a significant global presence.
- Certified refurbishment partner for leading brands like HP and Lenovo, enhancing credibility.
- Comprehensive refurbishment process, including sourcing, refurbishing, sales, and after-sales services.
- Commitment to sustainability through ESG initiatives and reducing e-waste
Risks
- High dependence on laptop sales, contributing over 75% of operational revenue, making the company vulnerable to market fluctuations.
- Exposure to technological obsolescence risks in the rapidly evolving ICT industry.
- Working capital-intensive operations may strain liquidity and financial flexibility.
- Moderate financial risk profile with adjusted overall gearing of 2.73x as of FY24.
- Intense competition in the refurbished electronics market, both domestically and internationally
Subscription Figures for GNG Electronics
Subscription numbers as of 5:00 PM on 23 July 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 40.24 | 67.71 | 1.68x |
| NII | 30.49 | 574.93 | 18.86x |
| Retail | 67.99 | 633.26 | 9.31x |
| Total | 138.73 | 1275.91 | 9.20x |