While the GMP indicates strong investor interest, analysts caution that it is speculative and may fluctuate significantly before the stock’s debut.
Also Read: Paytm stock rallies 122% in one year but still 53% below issue price. Can it reclaim its IPO glory?
IPO Details
The IPO will remain open from July 23 to July 25, 2025. The allotment is expected to be finalized on Monday, July 28, with a tentative listing date of Wednesday, July 30 on both the BSE and NSE.
The public offer aggregates to Rs 460.43 crore, comprising a fresh issue of 1.69 crore shares worth Rs 400 crore and an offer for sale (OFS) of 0.26 crore shares totaling Rs 60.44 crore.
The price band has been fixed at Rs 225–237 per share, with a lot size of 63 shares. For retail investors, the minimum investment comes to Rs 14,175. The minimum application size for small NIIs is 14 lots (882 shares) worth Rs 2,09,034, while for large NIIs, it is 67 lots (4,221 shares), amounting to Rs 10,00,377.Also Read: 7 Nifty500 stocks with highest dividend yields. Do you own any?
About the Company
GNG Electronics is India’s largest refurbisher of laptops, desktops, and other devices under the brand Electronics Bazaar. The company scaled its refurbished device volume to 5.9 lakh units in FY25, up from 2.5 lakh in FY23. Its procurement partner network also expanded from 265 to 557 during this period.
Laptops accounted for 75.6% of the company’s FY25 revenue, while the remainder came from desktops, tablets, servers, smartphones, and other electronics. GNG has a global presence across 38 countries and operates with 4,154 customer touchpoints as of March 2025.
Financials and Valuation
GNG Electronics more than doubled its revenue and profit in two years. For FY25, the company reported revenue of Rs 1,411 crore and net profit of Rs 69 crore, up from Rs 659.5 crore and Rs 32.4 crore in FY23, respectively. Its EBITDA margin improved to 8.9% from 7.6% over the same period.
Working capital surged to Rs 261 crore in FY25—2.5 times higher than in FY23. Based on FY25 earnings and post-IPO equity, the company is valued at a price-to-earnings (P/E) multiple of up to 39. It currently has no directly listed peer on the main board.
Lead Managers
Motilal Oswal Investment Advisors Limited is the book-running lead manager to the issue, and Bigshare Services Pvt Ltd is the registrar.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
