The eagerly anticipated GNG Electronics IPO opens for subscription tomorrow, July 23, 2025. If you’re looking to invest in a leading player in the refurbished electronics market, this IPO offers a fresh opportunity to be part of a company with a pan-India and international reach. Here’s an easy-to-read, comprehensive guide covering all key details: IPO dates, price band, lot size, objectives, business overview, strengths, risks, latest GMP (Grey Market Premium), and a step-by-step explanation of the application process.

GNG Electronics IPO: Key Details at a Glance
- IPO Open: July 23, 2025
- IPO Close: July 25, 2025
- Allotment Date: July 28, 2025
- Listing Date: July 30, 2025 (BSE, NSE)
- Issue Size: 1,94,27,637 shares, aggregating up to ₹460.43 crore
- Price Band: ₹225 – ₹237 per share
- Face Value: ₹2 per share
- Lot Size: 63 shares
- Issue Type: Book-building
- Lead Manager: Motilal Oswal Investment Advisors
- Registrar: Bigshare Services Pvt Ltd.
About GNG Electronics
GNG Electronics Limited was founded in 2006 and specializes in refurbishing laptops, desktops, and ICT devices, serving both Indian and global markets. Operating under the “Electronics Bazaar” brand, the company offers a complete value chain—from sourcing and refurbishment to sales and after-sales services. Their added offerings include e-waste management, on-site installation, flexible payment, and innovative buyback solutions tailored to both retailers like Vijay Sales and OEM brands such as HP and Lenovo. As of September 2024, GNG has a footprint in more than 35 countries, with over 3,200 sales touchpoints worldwide.
Financial Performance Snapshot
Period Ended | Sep 30, 2024 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 |
---|---|---|---|---|
Assets (₹ Cr) | 741.24 | 585.82 | 285.50 | 194.71 |
Revenue (₹ Cr) | 612.97* | 1,143.80 | 662.79 | 521.92 |
Net Profit (₹ Cr) | 35.21* | 52.31 | 32.43 | 21.77 |
Net Worth (₹ Cr) | 197.61 | 163.14 | 111.60 | 79.36 |
EBITDA Margin | 7.5% | – | – | – |
Return on Equity | 32% | – | – | – |
*Figures for half-year ended Sep 2024.
Key Takeaway:
GNG Electronics has shown rapid growth in assets and profits, with strong margins and a robust nationwide and international presence.
Grey Market Premium (GMP) and Expected Returns
As of July 22, 2025, the GNG Electronics IPO GMP is ₹78 per share, indicating an expected premium of around 32% over the upper price band. The “subject to sauda” value is ₹3,700 per application, further reflecting strong market sentiment. Investors should note that GMP can change quickly and should not be the only factor in investment decisions.
IPO Objectives
- Repayment/Prepayment of Borrowings: Funds raised will be used primarily for repaying certain loans to reduce interest burden and strengthen the balance sheet.
- General Corporate Purposes: Supporting ongoing expansion and operational needs.
Strengths and Risks
Strengths:
- Integrated refurbishment value chain with quality control from sourcing to warranty.
- Large, established sales network—presence in 35 countries and over 3,200 touchpoints.
- Partnership with prominent retailers and OEMs.
- Value-added services like e-waste management and innovative buyback programs.
Risks:
- Revenue is sensitive to technology adoption cycles and consumer demand for used ICT devices.
- High debt-to-equity ratio (1.95 as of Sep 2024).
- Subject to competitive pressure from both traditional and online marketplaces.
How to Apply for GNG Electronics IPO
Applying online is simple. Here’s how you can do it:
- Login to your broker’s platform (e.g., Zerodha, Upstox, HDFC Securities).
- Navigate to the IPO/bond section and select “GNG Electronics IPO.”
- Enter the number of lots (minimum 63 shares per lot).
- Choose your bid price—retail investors often opt for the cutoff/maximum price of ₹237.
- Provide your UPI ID and approve the payment mandate on your UPI app, or apply using the ASBA process from your bank’s net banking platform.
- Confirm your application and note the reference number for tracking.
Allotment results will be updated by July 28, and shares will be listed by July 30, 2025.
Should You Invest?
The GNG Electronics IPO presents exposure to a leader in India’s growing refurbished electronics space, with a track record of steady growth and innovative business offerings. The positive GMP and strong sales network add to its appeal, but like all IPOs, assess fundamentals and risks before investing. Consulting a financial advisor can help guide your decision.
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