GNG Electronics IPO opens on July 23: Price band set at ₹225 to ₹237 per share; check lot size, objectives and key dates

GNG Electronics IPO: Laptops and desktops refurbisher GNG Electronics' initial public offering will open for subscription from July 23 to July 25. It has set a price band of ₹225 to ₹237 per share.

The initial share sale seeks to raise ₹460.43 crore via the fresh issuance of 1.69 crore shares valued at ₹400 crore and an offer for sale (OFS) aggregating to ₹60.44 crore.

Under the OFS, promoter selling shareholders Sharad Khandelwal, Vidhi Sharad Khandelwal, and Amiable Electronics Private Limited will be divesting their stake.

The capital raised to the tune of ₹320 crore will be used for prepayment and repayment borrowings availed by the company and its material subsidiary Electronics Bazaar FZC. A part will also be utilised for general corporate purposes.

GNG Electronics IPO lot size

The application size is 63 shares and in multiples thereafter. Half of the net offer has been set aside for qualified institutional buyers (QIBs), 35% for retail individual investors (RIIs) and 15% for non-institutional investors (NIIs).

GNG Electronics IPO key dates: Allotment and listing details

• Basis for allotment finalisation: July 28
• Initiation of refunds: July 29
• Credit of equity shares to Demat account: July 29
• Listing on BSE and NSE: July 30

Motilal Oswal Investment Advisors Ltd, IIFL Capital Services Ltd, and JM Financial are the IPO's merchant bankers. Bigshare Services Pvt Ltd is the registrar.

About GNG Electronics

GNG Electronics is the largest refurbisher of laptops and desktops in India. It is also among the largest refurbishers of ICT (Information and Communication Technology) devices overall, both in India and globally, with significant presence in the United States of America, the United Arab Emirates, Europe and Africa, in terms of value, according to the 1Lattice Report.

The company follows a repair-over-replacement approach, which offers cost advantages and helps reach sustainability goals by reducing carbon footprint.

Domestically, it is the largest Microsoft-authorised refurbisher, as of FY25, in terms of refurbishing capability. The company also serves as an information technology asset disposal partner for the company's second-largest software company (by market capitalisation), procuring their used IT assets.