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GNG Electronics IPO is a bookbuilt issue of ₹460.43 crore. It combines a fresh issue of 1.69 crore shares, aggregating to ₹400.00 crore, and an offer for sale of 0.26 crore shares, aggregating to ₹60.44 crore.
The IPO opens for subscription on July 23, 2025, and closes on July 25, 2025. The allotment is expected to be finalized on Monday, July 28, 2025. The price band for the IPO is set at ₹225 to ₹237 per share, and the minimum lot size for an application is 63 shares.
Company Summary
Incorporated in 2006, GNG Electronics Limited offers refurbishing services for laptops, desktops, and ICT Devices, both globally and in India. The company has a significant presence across India, the USA, Europe, Africa, and the UAE.
The company operates under the brand “Electronics Bazaar”, offering sourcing, refurbishment, sales, and after–sales services, as well as providing warranty.
The company offers other value–added services, such as ITAD and e-waste management services, warranties, doorstep service, on-site installation, flexible payment options, easy upgrades, assured buyback programs, and buyback programs for refurbished ICT Devices.
GNG Electronics provides tailored buyback solutions for laptops and desktops to help large format retail stores such as Vijay Sales (India) Private Limited (“Vijay Sales”) and OEM brand stores such as HP India Sales Private Limited (“HP”) and Lenovo Global Technology (India) Private Limited (“Lenovo”) to run efficient, customer–friendly buyback programs facilitating sale of new devices.
The company has a sales network with the refurbished ICT Devices being sold in 38 countries as of March 31, 2025. GNG Electronics’ sales network comprises 4,154 touchpoints in India and globally, as of March 31, 2025.
As of March 31, 2025., The company had 1,194 employees.
Company Strengths
- India’s largest refurbisher of laptops and desktops, with a significant global presence.
- Certified refurbishment partner for leading brands like HP, Microsoft, 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
- The company is ISO 9001:2015 certified for its quality management systems, ISO 27001:2013 certified for its information security systems, ISO 14001:2015 certified for its environmental management systems, and ISO 45001:2018 certified for occupational health and safety.
Company Financials
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 719.46 | 585.82 | 258.5 |
| Revenue | 1,420.37 | 1,143.8 | 662.79 |
| Profit After Tax | 69.03 | 52.31 | 32.43 |
| EBITDA | 126.14 | 84.9 | 50.04 |
| Net Worth | 226.46 | 163.14 | 111.6 |
| Reserves and Surplus | 176.61 | 132.68 | 81.13 |
| Total Borrowing | 446.92 | 322.33 | 152.02 |
| Amount in ₹ Crore | |||
Objectives of IPO
- 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
- General corporate purposes
Promoters of the company
Sharad Khandelwal, Vidhi Sharad Khandelwal, Amiable Electronics Private Limited, and Kay Kay Overseas Corporation are the company promoters.
IPO Details
| IPO Date | July 23, 2025 to July 25, 2025 |
| Listing Date | July 30, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹225 to ₹237 per share |
| Lot size | 63 shares |
| Total Issue Size | 1,94,27,637 shares (aggregating up to ₹460.43 Cr) |
| Fresh Issue | 1,68,77,637 shares (aggregating up to ₹400.00 Cr) |
| Offer for sale | 25,50,000 shares of ₹2 (aggregating up to ₹60.44 Cr) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 9,71,33,880 shares |
| Share Holding Post Issue | 11,40,11,517 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 63 | ₹14,931.00 |
| Retail (Max) | 13 | 819 | ₹1,94,103.00 |
| S-HNI (Min) | 14 | 882 | ₹2,09,034.00 |
| S-HNI (Max) | 68 | 4158 | ₹9,85,446.00 |
| B-HNI (Min) | 69 | 4221 | ₹10,00,377.00 |
Allotment Schedule
| Basis of Allotment | Mon, 28 Jul, 2025 |
| Initiation of Refunds | Tue, 29 Jul, 2025 |
| Credit of Shares to Demat | Tue, 29 Jul, 2025 |
| Tentative Listing Date | Wed, 30 Jul, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 25, 2025 |
IPO Reservation
| Investor Category | Investor Category | Maximum Allottees |
| QIB Shares Offered | 97,13,818 (50.00%) | NA |
| l Anchor Investor shares offered | 58,28,290 (30.00%) | NA |
| l OIB (EX.Anchor) shares offered | 38,85,528 (20.00%) | NA |
| NII (HNI) Shares Offered | 29,14,146 (15.00%) | NA |
| Retail Shares Offered | 67,99,673 (35.00%) | 1,07,931 |
| Total Shares Offered | 1,94,27,637 (100.00%) | – |
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