GNG Electronics IPO Day 1 Live: Issue booked 23% so far; GMP signals 44% listing pop — Should you apply?
GNG Electronics IPO Day 1 Live: The net proceeds of the fresh issue are proposed to be utilised in the following manner: Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company and material subsidiary — Electronics Bazaar FZC General corporate purposes
23 Jul 2025, 11:21 AM IST
GNG Electronics IPO Day 1 Live: GNG Electronics Ltd. has established a strong competitive position in the high-growth refurbished ICT device industry, supported by global OEM partnerships, deep B2B integrations, and a fully integrated business model. Its first-mover advantage and end-to-end control in the refurbishment chain provide both scale and sustainability.
With favorable industry tailwinds and a growing global presence, the company stands to gain as demand shifts from unorganized to organized players. The IPO is priced at a P/E of 33.43x and P/BV of 10.17x (FY25 earnings), which appears reasonable considering its growth prospects, sector leadership, and asset-light model.
We recommend a SUBSCRIBE rating for well-informed investors with a medium to long-term horizon, said Canara Bank Securities.
23 Jul 2025, 11:00 AM IST
GNG Electronics IPO Day 1 Live: GNG Electronics IPO sailed through in less than one hour of opening, driven by strong demand from NII and retail investors. Here's a look at how different quotas were booked:
QIB: 0.02 times
NII: 2.20 times
Retail: 1.27 times
Overall: 1.12 times
23 Jul 2025, 10:44 AM IST
GNG Electronics IPO Day 1 Live: In just 40 mins, GNG Electronics IPO was subscribed 50% amid strong NII demand. The NII portion was booked 1.03 times so far while the retail quota also crossed the halfway mark, with 56% bids. QIB portion also saw 1% bids.
23 Jul 2025, 10:33 AM IST
GNG Electronics IPO Day 1 Live: 'The company is well placed to capitalize on the fast-growing refurbished electronics market, with global demand expected to grow at a 17.4% CAGR and India's market at 30% through FY30. It has doubled its customer base in two years and expanded operations across key regions,' said Arihant Capital.
Going forward, it aims to reach more retail and institutional buyers with affordable, reliable devices backed by flexible services and stronger digital outreach. At the upper price band of INR 237, the issue is priced at a P/E of 39.14x based on the FY25 EPS of INR 6.1, it added, as it assigned a "Subscribe" rating for the issue.
23 Jul 2025, 10:15 AM IST
GNG Electronics IPO Day 1 Live: GNG Electronics IPO was booked 12% within the first 15 minutes of opening amid strong bids from NIIs. Their portion was booked 36% so far while retail followed suit with an 8% bid. QIB portion did not see any subscription yet.
23 Jul 2025, 09:59 AM IST
GNG Electronics IPO Day 1 Live: The bidding for GNG Electronics IPO kicked off for subscription on the first day. Investors can now apply for the IPO. The issue will remain open till Friday.
23 Jul 2025, 09:46 AM IST
GNG Electronics IPO Day 1 Live: All you need to know about GNG Electronics IPO before hitting 'Apply' Open Date: Jul 23, 2025
Close Date: Jul 25, 2025
Price Band: ₹ 225 – 237
225 – 237 Face Value: ₹ 2
2 Market Lot: 63 Shares
Minimum Lot: 1
Listing: BSE & NSE
23 Jul 2025, 09:42 AM IST
GNG Electronics IPO Day 1 Live: GNG Electronics has demonstrated strong operational growth. The volume of devices refurbished increased significantly from 248,135 units in FY23 to 590,787 units in FY25. The number of customers served grew from 1,833 to 4,154, and procurement partners expanded from 265 to 557 over the same period.
Revenue from Operations increased at a CAGR of 46.3% from FY23–FY25, reaching ₹ 1,411.1 crore in FY25, up from ₹ 659.5 crore in FY23. EBITDA was at ₹ 116.1 crore in FY25, with a margin of 8.3%. PAT grew from ₹ 32.4 crore to ₹ 69 crore in the same period. PAT Margin remained stable, around 4.9% in FY25. RoE was strong at 30.4% in FY25.
Ventura said it recommends a 'Subscribe' for GNG Electronics Ltd as we expect margins to improve with debt reduction going ahead.
23 Jul 2025, 09:33 AM IST
GNG Electronics IPO Day 1 Live: GNG Electronics Ltd (Electronics Bazaar) IPO is a book-built issue of ₹ 460.4 crore. This includes a fresh issue of 1.68 crore shares aggregating to ₹ 400 crore, and an offer for sale of 0.25 crore shares aggregating to ₹ 60.4 crore.
23 Jul 2025, 09:06 AM IST
Prior to the public offering of its IPO, GNG Electronics raised ₹ 138 crore from anchor investors. The anchor round saw allocations to various funds, including Goldman Sachs Fund, Motilal Oswal Mutual Fund, Buoyant Opportunities Strategy, Edelweiss Mutual Fund, and Mirae Asset Mutual Fund, as outlined in a circular available on the BSE's website.
As stated in the circular, GNG Electronics distributed 58,28,290 equity shares to 14 different funds at a price of ₹ 237 each. This results in a total transaction sum of ₹ 138.13 crore.
23 Jul 2025, 09:04 AM IST
GNG Electronics IPO grey market premium is +105. This indicates GNG Electronics share price was trading at a premium of ₹ 105 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of GNG Electronics share price was indicated at ₹ 342 apiece, which is 44.30% higher than the IPO price of ₹ 237.
According to the grey market activities observed in the last six sessions, the IPO GMP is trending upwards today and is anticipated to have a robust listing. The minimum GMP recorded is ₹ 71.00, while the maximum GMP is ₹ 105, as stated by experts from investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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