GNG Electronics IPO 2025: GMP, Date, Price, Review, Allotment Details
The GNG Electronics IPO, a mainboard IPO from Mumbai-based GNG Electronics Limited, aims to raise ₹460.43 crores through a fresh issue of 1.69 crore equity shares and an offer for sale (OFS) of 25.5 lakh shares. Opening on July 23, 2025, with a price band of ₹225 to ₹237 per share, this IPO offers investors a chance to invest in India’s largest refurbisher of laptops and desktops, operating under the Electronics Bazaar brand.
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This article provides a comprehensive overview of the GNG Electronics IPO, including grey market premium (GMP), subscription status, allotment details, financial performance, and expert review to guide investors.
GNG Electronics IPO Details
The GNG Electronics IPO is a book-built issue comprising a fresh issue of 1.69 crore equity shares (₹400 crores) and an OFS of 25.5 lakh shares (₹60.44 crores), each with a face value of ₹2. Below are the key details based on the Red Herring Prospectus (RHP) and recent updates:
| Particulars | Details |
|---|---|
| IPO Opening Date | July 23, 2025 |
| IPO Closing Date | July 25, 2025 |
| Allotment Date | July 28, 2025 |
| Listing Date | July 30, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹225 to ₹237 per share |
| Lot Size | 63 shares |
| Issue Size | ₹460.43 crores |
| Fresh Issue | ₹400 crores (1.69 crore shares) |
| Offer for Sale | ₹60.44 crores (25.5 lakh shares) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Book Running Lead Managers | Motilal Oswal Investment Advisors, IIFL Capital Services, JM Financial |
| Registrar | Bigshare Services Pvt Ltd |
The IPO allocates 50% to Qualified Institutional Buyers (QIBs), 15% to High Net-Worth Individuals (HNIs), and 35% to Retail Individual Investors (RIIs). The minimum investment for retail investors is ₹14,931 (63 shares at ₹237), for sNII investors is ₹2,09,034 (14 lots, 882 shares), and for bNII investors is ₹10,00,377 (67 lots, 4,221 shares). The anchor investor bid date is July 22, 2025, raising ₹138.13 crores.
GNG Electronics IPO Subscription Status
The subscription status for the GNG Electronics IPO will be updated daily during the subscription period from July 23 to July 25, 2025. Investors can track live subscription data on the BSE, NSE, or the registrar’s portal (Bigshare Services).
| Category | Subscription (Times) |
|---|---|
| QIB | To be updated |
| NII (HNI) | To be updated |
| Retail | To be updated |
| Total | To be updated |
Note: Subscription data will be available during the IPO subscription period (July 23–25, 2025).
GNG Electronics IPO Allotment Status
The allotment for the GNG Electronics IPO is expected to be finalized on July 28, 2025. Investors can check their allotment status on the registrar’s website (Bigshare Services) or the BSE/NSE websites using their application number, PAN, or DP Client ID. Shares will be credited to demat accounts by July 29, 2025, and refunds will be processed for non-allotted applications.
Steps to Check Allotment Status:
- Visit the Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html).
- Select “GNG Electronics IPO” from the dropdown menu.
- Enter your Application Number, PAN, or DP Client ID.
- Click “Search” to view your allotment status.
Note: Allotment status will be available after finalization on July 28, 2025.
GNG Electronics IPO Grey Market Premium (GMP) Today
The Grey Market Premium (GMP) reflects the premium at which IPO shares trade in the unofficial market before listing. As of July 19, 2025, the GMP for the GNG Electronics IPO is ₹71, indicating strong investor interest and potential listing gains of approximately 29.96% over the upper price band of ₹237, with an estimated listing price of ₹308. Investors should monitor GMP trends closer to the IPO opening on July 23, 2025.
| Date | GMP (₹) | Estimated Listing Price (₹) |
|---|---|---|
| July 19, 2025 | ₹71 | ₹308 (₹237 + ₹71) |
| July 18, 2025 | Not Available | Not Available |
| July 17, 2025 | Not Available | Not Available |
| July 16, 2025 | Not Available | Not Available |
Disclaimer: GMP is unofficial and volatile. Base investment decisions on company fundamentals, not just GMP.
GNG Electronics IPO Kostak Rates Today
The Kostak rate is the premium an investor earns by selling their IPO application in the grey market before allotment. As of July 19, 2025, the Kostak rate for the GNG Electronics IPO is not available, as grey market activity is still developing. Check with grey market dealers for updates closer to the IPO opening.
| Date | Kostak Rate (₹) |
|---|---|
| July 19, 2025 | Not Available |
GNG Electronics IPO Subject to Sauda Rates
The Subject to Sauda rate is the amount agreed for an IPO application, payable only if allotted. As of July 19, 2025, the Subject to Sauda rate for the GNG Electronics IPO is not available, as grey market trading is in early stages.
| Date | Subject to Sauda (₹) |
|---|---|
| July 19, 2025 | Not Available |
Note: Kostak and Subject to Sauda rates are unofficial and may fluctuate as grey market activity intensifies.
About GNG Electronics Limited
Incorporated in 2006, GNG Electronics Limited, based in Mumbai, is India’s largest refurbisher of laptops and desktops and a global leader in ICT device refurbishment, operating under the Electronics Bazaar brand. With a presence in 38 countries, including India, the USA, Europe, Africa, and the UAE, the company manages the entire refurbishment value chain—from sourcing to after-sales service. As of March 31, 2025, GNG had a portfolio of 5,840 SKUs and 4,154 global touchpoints, supported by five refurbishing facilities in Navi Mumbai, Sharjah (UAE), and Dallas (USA). It is India’s largest Microsoft Authorized Refurbisher and partners with global OEMs like HP and Lenovo. The promoters are Sharad Khandelwal, Vidhi Sharad Khandelwal, Amiable Electronics Private Limited, and Kay Kay Overseas Corporation.
GNG Electronics IPO Objectives
The net proceeds from the fresh issue will be used for:
- Prepayment or repayment of certain outstanding borrowings of GNG Electronics Limited and its subsidiary, Electronics Bazaar FZC (₹320 crores).
- Funding working capital requirements (₹260 crores).
- General corporate purposes.
GNG Electronics Financials
GNG Electronics has shown robust financial growth, driven by global demand for refurbished ICT devices. Below is a summary of its financial performance:
| Particulars | FY25 (₹ Crores) | FY24 (₹ Crores) | Growth (%) |
|---|---|---|---|
| Revenue | 1,411.10 | 1,138.10 | 24.00% |
| EBITDA | Not Available | Not Available | Not Available |
| PAT | 68.80 | 52.30 | 31.55% |
The company’s strong revenue (24% growth) and PAT (31.55% growth) reflect its market leadership and operational efficiency.
GNG Electronics IPO Strengths
- Market Leadership: India’s largest refurbisher of laptops and desktops, with a global presence in 38 countries.
- Strong Financials: 24% revenue growth and 31.55% PAT growth from FY24 to FY25, indicating robust performance.
- Global Operations: Five refurbishing facilities across India, UAE, and USA, with 4,154 touchpoints and 5,840 SKUs.
- Brand Partnerships: India’s largest Microsoft Authorized Refurbisher, with partnerships with HP, Lenovo, and others.
- Sustainability Focus: Repair-over-replacement approach reduces carbon footprint, aligning with global trends.
GNG Electronics IPO Risks
- High Valuation: Pre-money P/E of 33.4x and post-money P/E of 39.2x may deter value investors.
- Fragmented Market: No single player holds more than 5% of the global refurbishment market, increasing competition.
- Debt Repayment: ₹320 crores of proceeds allocated to debt repayment may limit growth investments.
- GMP Volatility: GMP of ₹71 as of July 19, 2025, is subject to change, reflecting uncertain listing gains.
- Limited Financial Data: Lack of EBITDA data restricts comprehensive financial analysis.
GNG Electronics IPO Review
The GNG Electronics IPO offers exposure to a leading player in the global refurbished ICT device market, with a strong 24% revenue growth and 31.55% PAT growth from FY24 to FY25. Its position as India’s largest Microsoft Authorized Refurbisher and partnerships with global OEMs like HP and Lenovo enhance its credibility. The company’s presence in 38 countries and focus on sustainability align with growing demand for affordable, eco-friendly electronics. X posts highlight investor enthusiasm, with a GMP of ₹71 as of July 19, 2025, suggesting a potential listing price of ₹308 (29.96% gain). However, risks include a high P/E valuation (39.2x post-money), a fragmented competitive landscape, and reliance on debt repayment. The mainboard status and ₹460.43 crore issue size ensure high visibility, but the high lot size (₹14,931 for retail、再) may challenge retail investors. Long-term investors may find this IPO attractive due to strong fundamentals and global growth potential, but short-term investors should monitor GMP and market conditions closely.
Recommendation: Suitable for long-term investors with moderate risk tolerance, but consult a financial advisor due to valuation and market risks.
How to Apply for GNG Electronics IPO
Investors can apply through ASBA (Applications Supported by Blocked Amount) or UPI via their bank or brokers like Zerodha, Upstox, or 5Paisa.
Steps to Apply:
- Log in to your demat account or broker’s platform (e.g., Zerodha Console).
- Navigate to the IPO section and select “GNG Electronics IPO.”
- Enter the number of lots (minimum 63 shares) and price (₹225–₹237 per share).
- Provide your UPI ID or bank details for payment.
- Submit the application and approve the UPI mandate.
Check your broker’s IPO application process for detailed instructions.
GNG Electronics IPO FAQs
When does the GNG Electronics IPO open and close?
The IPO opens on July 23, 2025, and closes on July 25, 2025.
What is the price band of the GNG Electronics IPO?
The price band is ₹225 to ₹237 per share.
What is the minimum investment for retail investors?
The minimum investment is ₹14,931 for 63 shares at ₹237 per share.
How can I check the GNG Electronics IPO allotment status?
Visit the Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html), select “GNG Electronics IPO,” and enter your PAN, application number, or DP Client ID.
What is the GMP of the GNG Electronics IPO today?
As of July 19, 2025, the GMP is ₹71, with an estimated listing price of ₹308.
Where will the GNG Electronics IPO be listed?
The IPO will be listed on the BSE and NSE on July 30, 2025.
