GNG Electronics IPO: Price band set at ₹225-237 per share; check key dates, issue details, more
The GNG Electronics IPO lot size is 63 equity shares and in multiples of 63 equity shares thereafter. GNG Electronics IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, GNG Electronics IPO basis of allotment of shares will be finalised on Monday, July 28 and the company will initiate refunds on Tuesday, July 29 while the shares will be credited to the demat account of allottees on the same day following refund. GNG Electronics share price is likely to be listed on BSE and NSE on Wednesday, July 30.
GNG Electronics IPO, which is worth ₹ 460 crore, comprises a fresh issue of ₹ 400 crore, and an offer-for-sale (OFS) of 25,50,000 equity shares by the promoters selling shareholders.
The GNG Electronics IPO plan aims to allocate the net proceeds from the offering for various purposes, which include the prepayment and/or repayment, either fully or partially, of some of the outstanding debts incurred by the Company and its significant subsidiary, Electronics Bazaar FZC; along with general corporate needs.
Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial is the book-running lead manager of the GNG Electronics IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
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