GNG Electronics share price: Stock makes solid debut at nearly 50% premium; here's how much investors made

The stock started trading at ₹355 apiece on the National Stock Exchange (NSE), reflecting a premium of 49.79% over the issue price of ₹237.

On the BSE, it debuted at ₹350, up 47.68%.

GNG Electronics share price: Here's how much investors made per lot

The ₹460.43-crore initial public offering was booked 147.93 times during the subscription window, as it secured bids for 2,09,89,15,182 shares compared to 1,41,88,644 equity shares on offer.

The bidding was led by qualified institutional buyers (QIBs) who subscribed their portion 266.21 times, while the quota for non-institutional investors (NIIs) secured 227.67 times the subscription. The retail individual investors (RIIs) category attracted 46.84 times the subscription.

With a price band of ₹225 to ₹237 per share, the initial public offer consisted of a fresh issue worth ₹400 crore as well as an offer for sale (OFS) of 25.5 lakh equity shares.

Under the OFS, promoters Sharad Khandelwal, Vidhi Sharad Khandelwal, and Amiable Electronics Private Limited offloaded their stake.

The money generated will be utilised for debt repayment, working capital requirements, and general corporate purposes.

Before the IPO, the company mobilised ₹138 crore from anchor investors, including Goldman Sachs Fund, Buoyant Opportunities Strategy, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, and Edelweiss Mutual Fund.

GNG Electronics, which runs under the brand 'Electronics Bazaar', has a presence across the full refurbishment value chain, i.e., from sourcing to refurbishment to sales and after-sale services.

It is the largest refurbisher of laptops and desktops in India and among the largest refurbishers of ICT devices domestically and globally. Apart from India, it has a significant presence in Europe, the USA, Africa, and the UAE.

JM Financial, Motilal Oswal Investment Advisors, and IIFL Capital Services were the IPO's book-running lead managers.