Check IPO allotment status for GNG Electronics IPO; Top subscribed IPO this year
GNG Electronics Ltd is set to finalise its IPO share allotment today, Monday, July 28, after an overwhelming investor response made it the most subscribed IPO of the year. The ₹460.43-crore issue witnessed an overall subscription of 146.9 times when it closed on Friday, July 25.
The IPO garnered bids for over 208.43 crore shares against 1.41 crore shares on offer. Retail investors subscribed 45.32 times their quota, while the Non-Institutional Investors (NIIs) segment was booked 226.45 times. The Qualified Institutional Buyers (QIBs) segment led the charge with a subscription of 266.21 times.
The IPO consisted of a fresh issue of ₹400 crore and an offer-for-sale worth ₹60.44 crore. Proceeds from the fresh issue will be used to repay debt, meet working capital needs, and for general corporate purposes.
How to check GNG Electronics IPO allotment status
Allotment status can be checked via the BSE, NSE, or through the registrar Bigshare Services Pvt Ltd:
On BSE website: Go to BSE IPO allotment page Select 'Equity' under issue type Choose 'GNG Electronics Ltd.' from the dropdown Enter your application number or PAN Click 'Search'
On Bigshare Services: Visit Bigshare allotment page Select 'GNG Electronics Ltd' from the dropdown Provide your PAN/Application number/DP ID/Account number Click 'Submit'
On NSE website:
Investors can also check using PAN and application number on the NSE IPO portal.
Shares are expected to be credited to Demat accounts by Tuesday, July 29, and refunds for unallotted shares will be processed the same day. Listing is scheduled for Wednesday, July 30, on both NSE and BSE.
About GNG Electronics
Operating under the 'Electronics Bazaar' brand, GNG Electronics is a leading refurbisher of laptops, desktops, and ICT devices, with operations across India and global markets.
Risks to consider High oversubscription : A 146.9x subscription makes share allotment extremely competitive.
: A 146.9x subscription makes share allotment extremely competitive. Grey Market Premium (GMP) : While current GMP is 42.19%, it's unofficial and volatile.
: While current GMP is 42.19%, it's unofficial and volatile. Industry pressure : The refurbished electronics sector is highly competitive, possibly affecting margins.
: The refurbished electronics sector is highly competitive, possibly affecting margins. Information gaps : Limited visibility on certain financial and operational data could be a concern.
: Limited visibility on certain financial and operational data could be a concern. Regulatory risks: Compliance with SEBI and other norms could impact operations.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making any investment decisions.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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