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News18
9 hours ago
- Business
- News18
Day 2 of offer: GNG Electronics IPO gets subscribed 26.90 times
New Delhi, Jul 24 (PTI) The initial public offer of GNG Electronics Ltd received 26.90 times subscription on the second day of share sale on Thursday. The three-day IPO got bids for 38,16,47,826 shares against 1,41,88,644 shares on offer, according to data available with the NSE. The non-institutional investors part fetched 68.57 times subscription, while the quota for retail individual investors (RIIs) garnered 23.01 times subscription. The portion for qualified institutional buyers (QIBs) received 2.21 times subscription. GNG Electronics on Tuesday raised Rs 138 crore from anchor investors. The Rs 460-crore initial public offering (IPO) will conclude on July 25. The price band has been fixed at Rs 225-237 per share. At the upper end of the price band, the company's market valuation is over Rs 2,700 crore. The IPO is a combination of a fresh issue of equity shares aggregating to Rs 400 crore and an offer for sale (OFS) of 25.5 lakh equity shares by promoters worth Rs 60.43 crore at the upper end of the price band. This takes the total issue size to Rs 460.43 crore. Proceeds of the fresh issue will be utilised for the debt payment, funding working capital requirements and for general corporate purposes. GNG Electronics is one of the leading refurbishers of laptops and desktops with a significant presence across India, the US, Europe, Africa, and the UAE. The company operates under the brand 'Electronics Bazaar', with presence across the full refurbishment value chain from sourcing to refurbishment to sales, to after-sale services and providing warranty. Motilal Oswal Investment Advisors, IIFL Capital Services and JM Financial are the book-running lead managers to the issue. PTI SUM SUM SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 24, 2025, 19:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
13 hours ago
- Business
- Mint
IPO GMPs: Brigade Hotel Ventures IPO vs IndiQube Spaces IPO vs GNG Electronics IPO — What grey market hints at?
This week is lively with IPO activities, as GNG Electronics IPO, Indiqube Spaces IPO, and Brigade Hotel Ventures IPO have already entered the Indian stock market, while Shanti Gold International IPO is scheduled to enter the primary market tomorrow, Friday, July 25. The GNG Electronics IPO and Indiqube Spaces IPO have both achieved full subscriptions on their second day, whereas Brigade Hotel Ventures IPO has not yet reached that milestone on its first day. Mohit Gulati, the CIO and managing partner of ITI Growth Opportunities Fund, said that in comparing the GNG Electronics, Indiqube Spaces, and Brigade Hotel Ventures IPOs, retail investors face a challenging decision amid shifting Indian macroeconomic conditions. Although GNG Electronics shows initial subscription strength, its stretched valuations and working capital concerns raise red flags. Indiqube Spaces presents a high-growth narrative in flexible workspaces but remains loss-making with limited retail allocation, increasing its risk profile. Brigade Hotel Ventures, backed by stable hospitality assets, offers relative defensiveness though the sector is cyclical and currently under pressure. Gulati believes that given ongoing inflationary pressures, slowing economic growth, and reduced market depth, the risk-reward ratio for subscribing to these IPOs has worsened significantly. The current environment does not favor aggressive investments in highly valued or early-stage issues. 'While the broader Indian IPO market shows resilience and a strong pipeline, retail investors should exercise caution and prefer a selective, wait-and-watch approach until macro conditions stabilize and liquidity improves. Ultimately, none of these IPOs stand out as a clear winner for retail subscription under prevailing market dynamics,' advised Mohit Gulati. Let's take a look at the grey market premium trends: IndiQube Spaces IPO grey market premium is +14. This indicates IndiQube Spaces share price is trading at a premium of ₹ 14 in the grey market, according to Considering the upper end of the IndiQube Spaces IPO price band and the current premium in the grey market, the estimated listing price of IndiQube Spaces share price is indicated at ₹ 251 apiece, which is 5.91% higher than the IPO price of ₹ 237. Analysing the grey market activities from the last eight sessions, the current GMP ( ₹ 14) indicates a trend towards decline. The lowest GMP recorded is ₹ 0.00, and the highest is ₹ 40, as per insights from experts. GNG Electronics IPO grey market premium is +100. This indicates GNG Electronics share price is trading at a premium of ₹ 100 in the grey market, according to Considering the upper end of the GNG Electronics IPO price band and the current premium in the grey market, the estimated listing price of GNG Electronics shares is ₹ 337 apiece, which is 42.19% higher than the IPO price of ₹ 237. Following the last seven sessions of grey market activities, the current IPO GMP is showing an upward trend, indicating a robust listing anticipated. The minimum GMP recorded is ₹ 71.00, whereas the maximum GMP is ₹ 105, as per insights from experts. Brigade Hotel IPO GMP is +8. This indicates Brigade Hotel Ventures share price is trading at a premium of ₹ 8 in the grey market, according to Considering the upper end of the Brigade Hotel IPO price band and the current premium in the grey market, the estimated listing price of Brigade Hotel Ventures share price is indicated at ₹ 98 apiece, which is 8.89% higher than the IPO price of ₹ 90. According to the grey market activities observed over the last seven sessions, the current GMP ( ₹ 8) indicates a trend toward declining values. The lowest GMP recorded is ₹ 0.00, while the highest stands at ₹ 17, as per experts from 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Economic Times
15 hours ago
- Business
- Economic Times
GNG Electronics IPO subscribed over 15x on day 2: GMP rises to 42%
GNG Electronics IPO GMP GNG Electronics IPO details Live Events Should you subscribe? Financials and valuation GNG Electronics IPO key dates Lead managers (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering ( IPO ) of GNG Electronics continued to see strong investor demand on the second day of bidding, with the issue subscribed 15.11 times as of 11:27 AM on company received bids for 21.44 crore shares against 1.41 crore on offer. Non-institutional investors (NIIs) led the demand, subscribing to 34.8 times their quota, while the retail portion was subscribed 14.22 times. The qualified institutional buyer (QIB) segment saw a 1.77 times the grey market, GNG Electronics shares were quoting a premium of Rs 100–105, translating to an estimated 42% upside over the upper end of the price band. The grey market premium (GMP) has edged up from Rs 98–103 a day IPO includes a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore by existing shareholders. The price band is set at Rs 225–237 per share, valuing the company at a P/E of 33.3x based on FY25 of the IPO, the company raised Rs 138 crore from anchor investors on July 22 by allotting over 58 lakh Securities and Canara Bank Securities have both given the issue a "Subscribe" rating, citing scale, growth, and strategic positioning.'GNG operates in a fragmented but fast-formalising market. With operations in 38 countries, refurbishing over 5.9 lakh devices in FY25, and a 46% revenue CAGR over FY23–FY25, the company is well poised to benefit from affordability-driven demand and ESG tailwinds,' the brokerages GNG ElectronicsGNG Electronics, which operates under the Electronics Bazaar brand, is India's largest refurbisher of laptops and desktops. The company scaled up its refurbished volume from 2.5 lakh devices in FY23 to 5.9 lakh in FY25. Its procurement network also expanded from 265 to 557 partners during the same contributed 75.6% of FY25 revenue, with the rest coming from desktops, tablets, smartphones, servers, and other electronics. As of March 2025, GNG had a presence in 38 countries and operated 4,154 customer the past two years, GNG more than doubled its revenue and profit. 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. The EBITDA margin improved from 7.6% to 8.9% during the capital rose to Rs 261 crore in FY25, up 2.5x from FY23. Based on FY25 earnings and post-IPO equity, the stock is priced at a P/E multiple of up to 39x. The company has no direct listed peers on the main 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 Oswal Investment Advisors Limited is the book-running lead manager to the issue, and Bigshare Services Pvt Ltd is the registrar.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
16 hours ago
- Business
- Time of India
GNG Electronics IPO subscribed over 15x on day 2: GMP rises to 42%
GNG Electronics IPO GMP GNG Electronics IPO details Live Events Should you subscribe? Financials and valuation GNG Electronics IPO key dates Lead managers (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering ( IPO ) of GNG Electronics continued to see strong investor demand on the second day of bidding, with the issue subscribed 15.11 times as of 11:27 AM on company received bids for 21.44 crore shares against 1.41 crore on offer. Non-institutional investors (NIIs) led the demand, subscribing to 34.8 times their quota, while the retail portion was subscribed 14.22 times. The qualified institutional buyer (QIB) segment saw a 1.77 times the grey market, GNG Electronics shares were quoting a premium of Rs 100–105, translating to an estimated 42% upside over the upper end of the price band. The grey market premium (GMP) has edged up from Rs 98–103 a day IPO includes a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore by existing shareholders. The price band is set at Rs 225–237 per share, valuing the company at a P/E of 33.3x based on FY25 of the IPO, the company raised Rs 138 crore from anchor investors on July 22 by allotting over 58 lakh Securities and Canara Bank Securities have both given the issue a "Subscribe" rating, citing scale, growth, and strategic positioning.'GNG operates in a fragmented but fast-formalising market. With operations in 38 countries, refurbishing over 5.9 lakh devices in FY25, and a 46% revenue CAGR over FY23–FY25, the company is well poised to benefit from affordability-driven demand and ESG tailwinds,' the brokerages GNG ElectronicsGNG Electronics, which operates under the Electronics Bazaar brand, is India's largest refurbisher of laptops and desktops. The company scaled up its refurbished volume from 2.5 lakh devices in FY23 to 5.9 lakh in FY25. Its procurement network also expanded from 265 to 557 partners during the same contributed 75.6% of FY25 revenue, with the rest coming from desktops, tablets, smartphones, servers, and other electronics. As of March 2025, GNG had a presence in 38 countries and operated 4,154 customer the past two years, GNG more than doubled its revenue and profit. 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. The EBITDA margin improved from 7.6% to 8.9% during the capital rose to Rs 261 crore in FY25, up 2.5x from FY23. Based on FY25 earnings and post-IPO equity, the stock is priced at a P/E multiple of up to 39x. The company has no direct listed peers on the main 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 Oswal Investment Advisors Limited is the book-running lead manager to the issue, and Bigshare Services Pvt Ltd is the registrar.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News18
18 hours ago
- Business
- News18
GNG Electronics IPO Day 2: GMP Falls, Issue Subscribed Over 11x So Far; Should You Apply?
Last Updated: GNG Electronics IPO GMP Today: The grey market premium of the IPO falls from 44.30% to 42.19%, still indicating strong listing gains for investors. Should I Subscribe To GNG Electronics IPO? The initial public offering of GNG Electronics Ltd, which refurbishes laptops and desktops, is witnessing second day of bidding today, Thursday, July 24. The IPO, which has received a strong subscription so far, will be closed on July 25. Till 10:09 am on the second day of bidding on Thursday, the issue received an 11.13 times subscription, garnering bids for 15,44,44,752 shares as against the 1,38,73,595 shares on offer. The retail and NII participation stood at 10.85x and 24.21x, respectively. The QIB category has received a 1.69x subscription. The IPO will remain open for subscription between July 23, 2025, and July 25, 2025. The share allotment will likely be finalised on July 28 (Monday), and the company is expected to be listed on both BSE and NSE on July 30 (Wednesday). GNG Electronics IPO Price & Lot Size The price band of the mainboard IPO, which plans to raise Rs 460.43 crore, has been fixed in the range of Rs 225 to Rs 237 apiece. At the upper-end of the price band, the company's market valuation is over Rs 2,700 crore. For investors, the minimum lot size for the IPO is 63. It means investors will have to apply for a minimum of 63 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 14,175 to apply for the IPO. GNG Electronics IPO GMP According to market observers, unlisted shares of GNG Electronics Ltd are currently trading at Rs 337 against the upper IPO price of Rs 237. It means a grey market premium or GMP of Rs 100, which is 42.19% over its issue price, indicating strong listing. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. GNG Electronics IPO: Should You Apply? Brokerages are largely bullish on GNG Electronics Ltd (GEL), recommending investors to subscribe to the IPO for the long term, citing strong financial growth, market leadership in refurbishing, and promising industry tailwinds. Bajaj Broking gave a 'Subscribe for long term' rating, highlighting that GEL is 'India's largest Microsoft authorised refurbisher, in terms of refurbishing capability, as of Fiscal 2025". It also noted the company's role as an IT asset disposal partner for India's second-largest software firm by market cap. On financials, Bajaj Broking observed that GEL's revenue and net profit rose from Rs 662.79 crore / Rs 32.43 crore in FY23 to Rs 1,420.37 crore / Rs 69.03 crore in FY25. The average RoNW stands at 30.68%. It added, 'If we attribute FY25 annualised earnings then the asking price is at a P/E of 39.17. Based on FY24 earnings, the P/E stands at 51.63." However, it flagged revenue concentration as a risk: 'In FY25, 75.59% of revenue came solely from laptop sales. A decline in laptop demand could materially impact revenue and profitability." Dependency on limited suppliers and price fluctuations in parts were also listed as concerns. SBI Securities echoed the optimism, stating, 'The company has registered strong Revenue/EBITDA/PAT CAGR of 46%/58%/46% (FY23–FY25) to Rs 1,411 crore / Rs 117 crore / Rs 69 crore, respectively." It also cited positive industry trends with India's refurbished PC market projected to grow at a CAGR of 31.3% till FY30. The brokerage noted the absence of listed peers in India and said: 'At the upper price band of Rs 237, GNG is valued at a P/E of 39.1x based on FY25 earnings. We recommend investors to SUBSCRIBE the IPO at cut-off price." Ventura Securities highlighted the company's five refurbishment facilities across India, UAE, and the US, and said, 'We recommend 'Subscribe' for GNG Electronics Ltd as we expect margins to improve with debt reduction going ahead." Arihant Capital also gave a 'subscribe' rating to the IPO and pointed to GNG's expanding customer base and global presence, and said the company is 'well placed to capitalise on the fast-growing refurbished electronics market". It added, 'At Rs 237, the issue is priced at a P/E of 39.14x based on FY25 EPS of Rs 6.1." SMIFS also issued a 'subscribe' call, noting, 'The company has more than doubled revenues to Rs 14,111 million in FY25, with EBITDA rising 2.5x and PAT at Rs 690 million. Return metrics remain strong with ROE at 30.4% and ROCE at 17.31%." It added that GNG is well-positioned to benefit from ESG-led and affordability-driven global IT demand. GNG Electronics IPO: More Info The IPO is a combination of a fresh issue of equity shares aggregating to 400 core and an offer-for-sale (OFS) of 25.5 lakh equity shares by promoters worth Rs 60.43 crore at the upper-end of the price band. This takes the total issue size to Rs 460.43 crore. Proceeds of the fresh issue will be utilised for the debt payment, funding working capital requirements and for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book-running lead managers to the issue. The company is expected to list on the bourses on July 30. About GNG Electronics GNG Electronics is one of the leading refurbisher of laptops and desktops with significant presence across India, the US, Europe, Africa, and the UAE. The company operates under the brand 'Electronics Bazaar', with presence across the full refurbishment value chain from sourcing to refurbishment to sales, to after-sale services and providing warranty. top videos View all The company's comprehensive process of refurbishment of ICT devices such as laptops, desktops, tablets, servers, premium smartphones, mobile workstations, and accessories ensures that such devices are similar to new in terms of both performance and aesthetics. Besides, the company is able to offer laptops at one-third price of new devices and other devices like desktops, tablets, servers, premium smart phones, mobile workstations and accessories at 35-50 per cent price of new devices. About the Author Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : initial public offering (IPO) IPO view comments Location : New Delhi, India, India First Published: July 24, 2025, 10:21 IST News business » ipo GNG Electronics IPO Day 2: GMP Falls, Issue Subscribed Over 11x So Far; Should You Apply? Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
