GNG Electronics IPO
GNG Electronics IPO — date, price band, lot size & details 2025
GNG Electronics listed on 30 Jul 2025 at ₹355, 49.8% above the ₹237 issue price.
GNG Electronics refurbishes laptops, desktops and ICT devices under the Electronics Bazaar brand. Its total income rose from Rs 662.79 crore in FY2023 to Rs 1,420.37 crore in FY2025.
Stock price
GNG Electronics is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 23 Jul 2025
- Close 25 Jul 2025
- Allotment 28 Jul 2025
- Refund/credit 29 Jul 2025
- Listing 30 Jul 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Jul, 2025 |
|---|---|
| Price Band | ₹225 – ₹237 |
| Face Value | ₹2 |
| Lot Size | 63 Shares |
| Issue Size | ₹460.43 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,931 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 63 shares at the ₹237 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 63 | ₹14,931 |
| Retail (max) | 13 | 819 | ₹1,94,103 |
| S-HNI (min) | 14 | 882 | ₹2,09,034 |
| S-HNI (max) | 66 | 4,158 | ₹9,85,446 |
| B-HNI (min) | 67 | 4,221 | ₹10,00,377 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 662.79 crore in FY2023 to Rs 1,420.37 crore in FY2025.
- 02Profit after tax rose from Rs 32.43 crore in FY2023 to Rs 69.03 crore in FY2025.
- 03Return on equity was 30.40%, as per the figures at the source.
- 04Rs 320.00 crore of the fresh issue was for reducing debt.
- 05Rs 400.00 crore of the Rs 460.43 crore issue was fresh capital.
Risks · 7
- 01The P/E was 39.14 at the upper band of Rs 237, based on post-issue EPS of Rs 6.05.
- 02Total borrowing of Rs 446.92 crore on 31 March 2025 was almost twice net worth of Rs 226.46 crore.
- 03Debt to equity was 1.95 on the figures at the source.
- 04The PAT margin was thin at 4.89% and the EBITDA margin was 8.94%.
- 05Total borrowing rose from Rs 152.02 crore on 31 March 2023 to Rs 446.92 crore on 31 March 2025 as sales grew.
- 06Assets rose from Rs 285.50 crore on 31 March 2023 to Rs 719.46 crore on 31 March 2025, so the business ties up more capital as it grows.
- 07Promoters held 95.01% before the issue and held 78.71% after it.
Three years of numbers
All figures in ₹ crore, as reported in the GNG Electronics offer document.
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 719.46 | 585.82 | 285.50 |
| Total Income | 1,420.37 | 1,143.80 | 662.79 |
| Profit After Tax | 69.03 | 52.31 | 32.43 |
| EBITDA | 126.14 | 84.90 | 50.04 |
| NET Worth | 226.46 | 163.14 | 111.60 |
| Reserves and Surplus | 176.61 | 132.68 | 81.13 |
| Total Borrowing | 446.92 | 322.33 | 152.02 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the GNG Electronics RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
GNG Electronics IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹7.11 | ₹6.05 |
| P/E Ratio (x) | 33.35 | 39.14 |
| Market Cap at Offer Price (₹ Cr) | ₹2,301.00 | ₹2,704.15 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹237 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹404.99 Cr of the issue is earmarked to named objects.
GNG Electronics IPO Anchor Investors
14 anchor investors across 13 fund houses committed ₹138.13 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The company has a presence in India, the USA, Europe, Africa and the UAE. It also offers IT asset disposal and e-waste management, warranties, doorstep service and buyback programmes.
It runs buyback solutions for large retailers such as Vijay Sales and for brand stores of makers such as HP and Lenovo.
The IPO was Rs 460.43 crore, with Rs 400.00 crore of fresh issue and Rs 60.44 crore of offer for sale. Rs 320.00 crore of the fresh money was planned for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
GNG Electronics IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
53 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Motilal Oswal Investment Advisors
40 issues handledBest listing: Kusumgar (+37.0%). Weakest: Turtlemint Fintech Solutions (-10.4%).
IIFL Capital Services Limited
50 issues handledBest listing: Tonbo Imaging India (+65.7%). Weakest: Acevector (-11.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of GNG Electronics?
The current Grey Market Premium is ₹92, or 39% over the issue price.
What is the GNG Electronics IPO price band?
₹225 to ₹237, on a face value of ₹2.
When is the allotment?
The basis of allotment is 28 July 2025, with listing on 30 July 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
