Laptops and desktops refurbisher GNG Electronics sets price band of Rs225-237 a share for IPO

GNG Electronics IPO

India's largest laptops and desktops refurbisher GNG Electronics has set a price band of Rs 225-237 a share for its intial public offering that will open for subscription on July 23.

The company will launch its IPO anchor book for institutional investors on July 22, while the offer will remain open for three days for the public till July 25.

This follows the IPO share allotment which will be finalised by July 28. GNG Electronics shares will be available for trading on the BSE and NSE, effective July 30.

The IPO consists of fresh issue of Rs 400 crore worth shares, and an offer-for-sale of 25.5 lakh shares by promoters. With the upper end price band, the total issue size of the IPO will be around Rs 460.44 crore.

Apart from laptops and desktops refurbishing, GNG Electronics is also among the largest refurbishers of ICT devices, both globally and in India with significant presence across India, USA, Europe, Africa and UAE, in terms of value.

The main objective of its fund raising via IPO is to reduce debt burden by Rs 320 crore, apart from the funds utilisation for general corporate purposes.

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GNG Electronics, which has five refurbishing facilities (across India, USA and UAE), competes with only listed peer Newjaisa Technologies which is very small compared GNG.

On the financial front, the company recorded healthy numbers in the past years with the profit in FY25 growing to Rs xx crore, from Rs 52.3 crore in previous fiscal. Revenue during the same period has risen to Rs xx crore compared to Rs 1,138.1 crore.

Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are acting as the book running lead managers for the GNG Electronics IPO.