The IPO market continues to attract investor attention in 2025, and the latest to join the list is GNG Electronics Limited. The company is launching its Initial Public Offering (IPO) on July 23, 2025. Let us do a detailed GNG Electronics IPO Review that covers its IPO Date, Price, Size, Grey Market Premium (GMP), strengths, risk factors, and whether you should invest in this IPO or avoid it.
About GNG Electronics Ltd
Incorporated in 2006, GNG Electronics Ltd provides refurbishing services for ICT devices like laptops, desktops, and peripherals. With its flagship brand “Electronics Bazaar,” the company operates across India, USA, Europe, Africa, and the UAE. It offers value-added services such as doorstep servicing, e-waste management, assured buyback, and flexible pay options.
The company services retail clients and OEMs like HP, Lenovo, and Vijay Sales, offering tailored buyback solutions. As of March 31, 2025, it had a network of 4,154 sales touchpoints and operated in 38 countries.
Competitive Strengths
- Leading player in refurbished IT devices in India
- Global presence across 38 countries
- Diverse services including ITAD, warranty, doorstep service, and e-waste management
- Wide sales network and strategic partnerships with OEMs and retail chains
- Significant improvement in financial performance over last 3 years
GNG Electronics IPO Issue Details
- IPO Open Date: July 23, 2025
- IPO Close Date: July 25, 2025
- IPO Price Band: ₹ 225 to ₹ 237 per share
- Face Value: ₹ 2 per share
- Lot Size: 63 shares
- Minimum Investment: ₹ 14,175 for retail investors
- IPO Size: ₹ 460.43 Crores
- Fresh Issue: ₹ 400 Crores
- Offer for Sale: ₹ 60.44 Crores
- Listing: BSE and NSE
- Allotment Date (Tentative): July 28, 2025
- Listing Date (Tentative): July 30, 2025
Objects of the Issue
The company intends to utilize the net proceeds from the fresh issue for:
- Repayment/prepayment of borrowings – ₹ 320 Crores
- General corporate purposes
- Financial Performance
(₹ in Crores)
- FY2023 Revenue: 662.79 | PAT: 32.43
- FY2024 Revenue: 1,143.80 | PAT: 52.31
- FY2025 Revenue: 1,420.37 | PAT: 69.03
Key metrics:
- ROE: 30.4%
- ROCE: 17.31%
- Debt-to-Equity: 1.95
- EBITDA Margin: 8.94%
- PAT Margin: 4.89%
Valuation and P/E Ratio Comparison
- EPS (Post IPO): ₹ 6.05
- P/E Ratio (Upper Price Band of ₹ 237): 39.14x
- Peers like Dixon, Syrma SGS and Kaynes have varying P/E ratios in the range of 35x-60x, depending on scale and services. While the IPO appears fully priced, its niche focus and growth visibility offer some upside.
Grey Market Premium (GMP) of GNG Electronics IPO
As of the latest update, the GMP of GNG Electronics IPO is around ₹ 45 to ₹ 50, indicating good investor interest and a likely listing gain of over 20% on the upper price band.
Reasons to Invest in GNG Electronics IPO
- Market leader in refurbished ICT segment
- Strong revenue and profit growth
- High ROE and attractive financial ratios
- Expanding presence in global markets
- Rising interest in circular economy and e-waste management
Risk Factors
- Highly competitive and fragmented sector
- Dependency on sourcing used ICT devices
- P/E ratio is on the higher side compared to some peers
- Forex risks due to international operations
How to Apply for GNG Electronics IPO?
You can apply for GNG Electronics IPO via:
- ASBA through your net banking
- UPI-based IPO apps like Zerodha, Groww, Upstox, Paytm Money
- Submit form to your broker or SCSB bank branch
GNG Electronics IPO Review – Should You Subscribe or Avoid?
GNG Electronics stands out as a leader in the refurbished electronics segment with a strong foothold in domestic and international markets. The financials show consistent growth, and the company has good return ratios. Though the IPO is fully priced, the company’s unique business model and expansion potential offer scope for wealth creation. Suitable for high risk factors who want to invest for medium to long-term.
FAQs about GNG Electronics IPO
What is the GNG Electronics IPO Date?
The IPO opens on July 23, 2025 and closes on July 25, 2025.
What is the price band of the GNG Electronics IPO?
The price band is ₹ 225 to ₹ 237 per share.
What is the GMP of GNG Electronics IPO today?
The GMP is currently around ₹ 45 to ₹ 50 per share.
How much should I invest in GNG IPO as a retail investor?
Minimum application is for 63 shares costing ₹ 14,175.
Is GNG Electronics IPO good or bad for investment?
It is a good opportunity for medium to long-term investors looking for unique niche sector exposure.
When will GNG Electronics IPO get listed?
Tentative listing date is July 30, 2025 on BSE and NSE.
How to check allotment status of GNG Electronics IPO?
Visit the registrar’s website (Bigshare Services Pvt Ltd) or BSE/NSE IPO allotment link.
Disclaimer: This article is for information only. Investors should consult their financial advisor before investing. Investing in IPOs involves market risks.
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Sir, Can you please comment about the promotor of the company and their percentage of share holdings. This help me to a great extent. Thank you for your excellent service. I am a regular follower of your advices. Regards
Promoters of GNG Electronics Ltd
The company has four promoters:
Sharad Khandelwal
Vidhi Sharad Khandelwal
Amiable Electronics Private Limited
Kay Kay Overseas Corporation
Promoters’ Shareholding Pattern
Pre-Issue Shareholding
As per the prospectus:
Promoter Group Holding (Pre-Issue): 95.01% of the company’s equity share capital.
Breakup:
Sharad Khandelwal: Individual promoter and also Managing Director.
Vidhi Sharad Khandelwal: Individual promoter.
Amiable Electronics Pvt Ltd: Corporate Promoter.
Kay Kay Overseas Corporation: Promoter firm.
(Note: Exact percentage breakup among individual promoters is not disclosed in public summaries, but Amiable Electronics is the primary shareholder among them.)
Post-Issue Shareholding
Post-issue promoter holding is not explicitly quantified in % in the provided data, but it will come down due to the fresh issue of shares and Offer For Sale (OFS) component.
The dilution is from:
Fresh Issue of ₹400 Cr (1.68 crore shares)
OFS of ₹60.44 Cr (25.5 lakh shares) by:
Sharad Khandelwal – 35,000 shares
Vidhi Sharad Khandelwal – 35,000 shares
Amiable Electronics Pvt Ltd – 24.8 lakh shares
Key Takeaways:
Promoters are actively involved in the operations and management.
Strong pre-IPO holding indicates confidence and control.
Post-IPO, promoters will still retain majority stake, ensuring continuity in governance.
Thank you sir, for your quick and prompt reply. Regards