GNG Electronics IPO subscribed 27 times on Day 2; check latest GMP

GNG Electronics IPO continues to see strong subscription, booked 18 times so far on Day 2.

GNG Electronics initial public offer (IPO) saw robust subscription on the second day of offer in the primary market. The refurbisher of laptops and desktops, received 8.99 times subscription on the first day of share sale on Wednesday.

GNG Electronics Ltd. initial share sale got bids for 38.16 crore shares against 1.41 crore shares on offer, as per NSE data.

Non Institutional Investors category received 68.57 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 23.01 times. Qualified Institutional Buyers (QIBs) part fetched 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.

Check All IPO News

GNG Electronics IPO GMP Today Price

According to platforms tracking grey market activity, the shares of GNG Electronics are trading at a premium of Rs 105, indicating a listing gain of about 44.3 percent over the upper end of the price band.

GNG Electronics is one of the leading refurbishers 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.

Shares of GNG Electronics will be listed on both NSE and BSE on July 30, while the allotment is expected on July 28.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.