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GNG Electronics Ltd IPO

The Company is India's largest refurbisher of laptops and desktops and among the largest refurbishers of ICT Devices overall, both globally and in India with significant presence across India, USA, Europe, Africa and UAE, in terms of value, as of March 31, 2025 (Source: 1Lattice Report). The Company operates under the brand Electronics Bazaar, with presence across the full refurbishment value chain i.e., from sourcing to refurbishment to sales, to after - sale services and providing warranty. It solves customers' requirement of affordable, reliable and premium ICT Devices which are as good as new devices, both functionally and aesthetically, and are backed by proven warranty.

GNG Electronics Ltd IPO Details

Total Shares Offered

₹ 1,94,27,637

Offer to Public

25,50,000

Retail Max (Shares)

₹ 67,99,673

Pre Issue Promoters Holding

₹ 9,22,86,705

Exchange

BSE

Issue size

₹ 460.44 Cr

IPO Open Date

Jul 23, 2025

Close Date

Jul 25, 2025

Lot Size

Min Investment

₹ 14,175

Issue Type

Book Building

Listing Date

Jul 30, 2025

GNG Electronics Ltd IPO Dates

Jul 23, 2025

Opening date

Jul 25, 2025

Closing date

Jul 28, 2025

Basis of Allotment

Jul 29, 2025

Initiation of Refunds

Jul 29, 2025

Credit of Shares

Jul 30, 2025

Listing date

Details

Sector	Type
Sector	Trading
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	110.3x	9713819	1071435582
NII	238.22x	2914145	694211112
Retail	49.01x	6799673	333268488
Employee	0x	0	0
Total	108.04x	19427637	2098915182

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

110.3x

238.22x

49.01x

108.04x

9713819

2914145

6799673

19427637

1071435582

694211112

333268488

2098915182

GNG Electronics Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	1,411.11	1,138.14	659.54
EBITDA	42.22	20.56	13.49
PAT	18.62	10.67	8.86
Total Assets	293.01	293.44	182.35
Share Capital	19.43	0.04	0.04
Total Borrowings	260.10	269.06	101.76
Operating Activities (Net Cash)	25.86	13.11	9.70
Investing Activities (Net Cash)	14.65	21.66	13.95
Financing Activities (Net Cash)	260.10	269.06	101.76
Net Cashflow	37.57	62.98	25.24

About GNG Electronics Ltd

GNG Electronics Limited was incorporated as GNG Electronics Private Limited under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated October 19, 2006, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). Subsequently, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed by its Shareholders at the extraordinary general meeting held on October 23, 2024, following which the name of the Company was changed to GNG Electronics Limited and a fresh certificate of incorporation pursuant to change of name under the Companies Act, 2013 was issued by RoC, on November 20, 2024.

The global used and refurbished electronics market comprises of electronics that are either resold `as-is' or after being refurbished. Unlike electronics that are sold `as-is', refurbished electronics undergo thorough inspection and repairs, ensuring they meet certain standards before resale. This market spans a range of electronics, from smartphones, laptops, and desktops to home and kitchen appliances, televisions, office equipment, cameras, and video game consoles. The electronics refurbishment industry is uniquely placed to grow even in downcycles of economic growth as it serves the replacement demand of new devices with affordable solutions.

Peer Comparison:

Newjaisa Technologies Ltd

GNG Electronics Ltd Key Points

Strengths

India's largest refurbisher of laptops and desktops and among the largest refurbishers of ICT devices overall, both globally and in India.

We are a company with domestic and international operations with five refurbishing facilities across India, USA and UAE.

Strong global supply chain, established sourcing base with long tail of vendors and wide customer base.

Well - established refurbishing capabilities and state - of - art infrastructure, with focus on quality.

Well positioned to harness global shift to sustainability and growing focus on ESG.

Risk

As of Fiscal 2025, Fiscal 2024 and Fiscal 2023, the company derived 75.59%, 67.87% and 79.97%, respectively, of its operational revenue from only sales of laptops and therefore its continued success is necessary for its business and prospects. Any decline in the demand for such product may have an adverse impact on the company business, revenue and profitability.

Increase in the prices of parts and materials essential for its operations may negatively impact the company business and financial performance. Furthermore, its ability to procure these parts and materials may be affected by price fluctuations in the future.

The company has substantial indebtedness which requires significant cash flows to service and limits its ability to operates freely. Its debt servicing coverage ratio for Fiscal 2025, Fiscal 2024 and Fiscal 2023 was 0.25 times, 0.25 times and 0.40 times, respectively. Any breach of terms under the company financing arrangements or its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements may adversely affect the company business and financial condition.

Strategy

Expanding our footprint and increase our market presence in India and other countries to capitalize on the industry tailwinds.

Enhancing procurement in India and other countries while parallelly strengthening brand relationships.

Focus on environmental, social, and governance (ESG) standards and expanding opportunities with OEMs.

How To Apply for GNG Electronics Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the GNG Electronics Ltd IPO?

GNG Electronics Ltd's IPO offers shares for up to 400 It begins on Jul 23, 2025 and ends on Jul 25, 2025.

What is the price of the GNG Electronics Ltd IPO?

The price of GNG Electronics Ltd IPO ranges between ₹225 to ₹237 per share.

What are the open and close dates for the GNG Electronics Ltd IPO?

The GNG Electronics Ltd IPO opens on Jul 23, 2025 and closes on Jul 25, 2025.

When will the GNG Electronics Ltd IPO be allotted?

The allotment for the GNG Electronics Ltd IPO will be finalised on Jul 28, 2025. The shares will be listed on BSE and NSE on Jul 30, 2025.

What is the minimum lot size required for GNG Electronics Ltd IPO?

The minimum lot size for GNG Electronics Ltd IPO is 63 shares, priced between ₹225 to ₹237 per share.

What is the GMP of GNG Electronics Ltd IPO?

The GMP (Grey Market Premium) of GNG Electronics Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of GNG Electronics Ltd IPO?

To check the allotment status of GNG Electronics Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the GNG Electronics Ltd IPO getting listed?

The GNG Electronics Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jul 23, 2025, and closes on Jul 25, 2025. The allotment is finalised on Jul 28, 2025.

How do you apply for the GNG Electronics Ltd IPO?

To apply for the GNG Electronics Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.