GNG Electronics IPO: Check IPO Date, Live Subscription and Key Details
GNG Electronics Limited, incorporated in 2006, is a leading global and India-based refurbisher of Information and Communication Technology (ICT) devices, primarily laptops and desktops, operating under the brand 'Electronics Bazaar'. The company follows a 'repair-over-replacement' circular economy model, offering comprehensive refurbished ICT products including laptops, desktops, tablets, servers, smartphones, and mobile accessories.
Price Range
₹225.00-237.00
Issue Size
460.43
Lot Size
63 shares
IPO Type
Mainboard
GMP
₹90(+37.97%)
Est. Listing Price
₹327
Invisible
-
Invisible
-
Key Metrics
Check Live GMP
Face Value
₹2
EPS
6.05
P/E Ratio
39.14
RoNW
30.4%
ROE
30.4%
Debt to Equity
1.97
Timeline
IPO Opens
23 Jul
IPO Closes
25 Jul
Allotment
28 Jul
Listing
30 Jul
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 23 July 2025 | Subscription starts |
| IPO Close Date | 25 July 2025 | Subscription ends |
| Allotment Date | 28 July 2025 | Allotment |
| Listing Date | 30 July 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,931 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,94,103 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,09,034 |
SHNI (Max)Below ₹10,00,000 | 66 | ₹9,85,446 |
BHNIAbove ₹10,00,000 | 67 | ₹10,00,377 |
IPO Objectives
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and the Material Subsidiary namely, Electronics Bazaar FZC.
- General Corporate Purposes.
Strengths
- India's largest refurbisher of laptops and desktops and among the largest refurbishers of ICT Devices globally, operating under the established brand 'Electronics Bazaar'.
- Strong global supply chain and wide customer base across 38 countries and 4,154 touchpoints, supported by five strategically located refurbishing facilities in India, USA, and UAE.
- Well-established refurbishing capabilities and state-of-the-art infrastructure, enabling advanced repairs (L1 to L3, including motherboard and LCD repairs, laser keyboard reprinting) and adherence to high quality standards (ISO 9001, 14001, 27001, 45001, R2V3, CPCB, MPCB).
- Experienced management team and qualified personnel with deep industry expertise, including a founder with 29 years of experience.
- Track record of profitability and consistent financial performance: Revenue and net profit more than doubled from FY23 to FY25 (CAGR of 46% for revenue and 44% for PAT), with healthy EBITDA (8.94%) and PAT (4.89%) margins in FY25.
Weaknesses
- Heavy reliance on laptop sales, which accounted for 75.59% of revenue in FY25, making the company vulnerable to demand shifts in this single product category.
- Significant portion of revenue (75.53% in FY25) generated from outside India, primarily from the UAE subsidiary (66.66% of total revenue in FY25). This exposes the company to foreign currency fluctuations, geopolitical uncertainties, and regulatory risks in international markets.
- High cost of materials and components (over 85% of total expenses in recent years) and dependence on a limited number of suppliers (top 10 suppliers accounted for 57.04% of inventory costs in FY25) without long-term contracts, leading to potential supply chain disruptions or price volatility.
- Working capital intensive business, with net working capital days increasing from 42 in FY24 to 68 in FY25, potentially straining cash flows due to the time lag between purchasing and selling refurbished inventory.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 719.46 | 585.82 | 285.5 |
| Revenue (₹ Cr.) | 1,420.37 | 1,143.8 | 662.79 |
| PAT (₹ Cr.) | 69.03 | 52.31 | 32.43 |
| Net Worth (₹ Cr.) | 226.46 | 163.14 | 111.6 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| GNG Electronics | 10.17 | 39.14 | 30.4% | 226.46 |
| Newjaisa Technologies | 1.5 | -103.44 | -1.45% | 55.22 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.68x | 2.21x | 266.21x |
| NII | 18.86x | 68.7x | 226.44x |
| S-HNI | 22.63x | 72.44x | 182.52x |
| B-HNI | 18.28x | 71.6x | 264.14x |
| RII | 9.31x | 24.09x | 47.36x |
| Total | 9.2x | 27.55x | 150.21x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 40,24,755 | 1,07,14,35,582 | 25,393.02 |
| NII | 30,49,167 | 69,04,62,234 | 16,363.95 |
| Small NII | 9,71,382 | 17,72,92,647 | 4,201.84 |
| Big NII | 19,42,764 | 51,31,69,587 | 12,162.12 |
| RII | 67,99,673 | 32,20,62,300 | 7,632.88 |
| Total | 1,38,73,595 | 2,08,39,60,116 | 49,389.85 |
Company Details
- GNG Electronics Ltd.
- Unit No. 415, Hubtown Solaris, N.S. Phadke Marg, Andheri (East), Mumbai, Maharashtra-400069
- +91 22 3123 658
- compliance@electronicsbazaar.com
- https://www.electronicsbazaar.com/
Registrar Details
- Bigshare Services Pvt Ltd
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://ipo.bigshareonline.com/IPO_Status.html