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GNG Electronics’ highly anticipated initial public offering (IPO) witnessed an explosive start on July 23, 2025. The Rs 460.43 crore issue achieved full subscription in a remarkable one hour after opening for bidding at 10:00 AM. By approximately 11:10 AM, data from the National Stock Exchange (NSE) confirmed the overall subscription had already reached 1.43 times the offered shares.
The subscription frenzy was primarily fueled by overwhelming interest from Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs). The NII portion, which includes high-net-worth individuals and corporates, led the charge with a subscription level of 2.75 times. Retail investors demonstrated strong confidence as well, subscribing their reserved quota 1.66 times. While the Qualified Institutional Buyers (QIB) portion saw a slower initial uptake at 2 percent subscribed, the overall demand was undeniably robust, reflecting significant market appetite for the refurbished electronics company’s shares.
This surge in public investor interest comes on the heels of a successful anchor book placement completed the day before the IPO opened. On Tuesday, July 22, GNG Electronics secured Rs 138 crore from anchor investors. These institutional commitments provided a strong vote of confidence and likely contributed to the positive sentiment driving the retail and NII rush.
The combination of the anchor investment success and the extraordinary pace of public subscription on the first morning underscores the significant market excitement surrounding the GNG Electronics IPO. The rapid oversubscription, especially within the crucial first hour, signals exceptionally strong demand for the company’s stock and sets a highly positive tone for the remainder of the subscription window, which closes on July 25. It also aligns with the notably high Grey Market Premium (GMP) observed prior to the opening, suggesting strong expectations for substantial listing gains.
information about GNG Electronics Ltd
Founded in 2006, GNG Electronics Limited is a prominent global and Indian provider specializing in the refurbishment of laptops, desktops, and various ICT devices. Operating under the brand name “Electronics Bazaar,” the company offers a comprehensive end-to-end service model, encompassing sourcing, refurbishment, sales, after-sale support, and warranty provision. GNG has established a significant international footprint, with active operations spanning India, the USA, Europe, Africa, and the UAE. Beyond core refurbishment, the company delivers a suite of value-added services designed to enhance customer experience and sustainability. These include IT Asset Disposition (ITAD) and e-waste management solutions, flexible payment options, assured buyback programs, easy device upgrades, doorstep service, and on-site installation support.
A key strength of GNG Electronics lies in its tailored buyback solutions for laptops and desktops. These programs are specifically designed to assist major retail partners like Vijay Sales and OEM brand stores such as HP and Lenovo in India. By facilitating efficient and customer-friendly buyback initiatives, GNG enables these partners to smoothly transition customers to new devices. As of March 31, 2025, GNG boasts an extensive global sales network, distributing its refurbished ICT devices across 38 countries. This network comprises an impressive 4,154 touchpoints worldwide, reflecting the company’s broad market reach. Supporting these operations, GNG employed a workforce of 1,194 individuals globally as of the same date, underscoring its scale and commitment to the refurbished electronics market and associated services.
GNG Electronics IPO Grey Market Premium (GMP)
Shares of GNG Electronics are commanding a significant premium in the grey market ahead of their public listing. Tracking platforms indicate the grey market premium (GMP) is currently Rs 105 per share. This suggests investors anticipate a potential listing gain of approximately 44.3% over the IPO’s upper price band of Rs 237 per share.
The company’s initial public offering (IPO) opened for subscription on July 23, 2025, and is scheduled to close on July 25, 2025. Investors can bid for shares within the price band of Rs 225 to Rs 237 per share. If the shares list at the GMP-indicated level, early subscribers could see substantial returns.
Based on the upper end of the price band (Rs 237), GNG Electronics is estimated to achieve a market capitalization exceeding Rs 2,700 crore upon listing. The company, engaged in refurbishing laptops and desktops globally, is expected to finalize share allotments by July 28, 2025. The shares are then scheduled to make their debut trading on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on July 30, 2025. The strong GMP reflects high grey market investor confidence in the listing’s performance.