GNG Electronics IPO Day 2 update: Subscription rises 18x, GMP at 42%

GNG Electronics received bids for 266.12 million shares against 14.18 million shares on offer, resulting in overall subscription of 18.76 times

GNG Electronics IPO Day 2 subscription status: The initial public offering (IPO) of laptops and desktop refurbisher GNG Electronics continues to see strong demand on the second day of the offer in the primary market. 

 

The mainline offering received bids for 266.12 million shares against 14.18 million shares on offer, resulting in overall subscription of 18.76 times, as of 1:20 PM on Thursday, showed NSE data. 

 

The non-institutional investors (NIIs) category received 44.4 times subscription, while the quota for retail investors got subscribed 17.33 times. However, the Qualified Institutional Buyers (QIBs) portion received only 1.85 times the subscription. 

 

Ahead of the IPO, GNG Electronics raised ₹138 crore from the anchor investors. 

Here are the key details of GNG Electronics IPO:

The ₹460 crore public issue will close for bidding on Friday, July 25. The basis of allotment of shares is expected to be finalised on Monday, July 28. Shares of GNG Electronics will be listed on the National Stock Exchange (NSE) and BSE on Wednesday, July 30.

 

The price band has been set in the range of ₹225 to ₹237. At the upper end of the price range, the company's market valuation comes at over ₹2,700 crore. 

 

Bigshare Services is the registrar of the issue. Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book-running lead managers. 

GNG Electronics IPO GMP

According to platform tracking grey market activity, the unlisted shares of GNG Electronics are trading at a premium of ₹100 or 42.2 per cent, indicating a listing price of around ₹337 against the issue price of ₹237. 

About GNG Electronics

GNG Electronics (GEL) is India’s largest refurbisher of laptops and desktops and among the largest refurbishers of ICT Devices overall, both globally and in India. The company has a significant presence across India, the USA, Europe, Africa and the UAE, in terms of value, as of March 31, 2025. It follows a repair-over-replacement approach, which provides cost advantages and helps achieve true sustainability by reducing the carbon footprint. 

 

GEL is India’s largest Microsoft authorised refurbisher, in terms of refurbishing capability, as of Fiscal 2025. It also serves as an IT asset disposal partner for India’s second–largest software company, in terms of market capitalisation as of Fiscal 2025, procuring their used IT assets. GEL operates under the brand “Electronics Bazaar”, with presence across the full refurbishment value chain, i.e., from sourcing to refurbishment to sales, to after–sales services and providing warranty.