GNG Electronics to launch ₹460 cr IPO on July 23; check price band, lot size & other details

GNG Electronics, India’s largest laptop and desktop refurbisher, is set to hit the primary markets with its initial public offering (IPO) on July 23, with a price band of ₹225-₹237 per share. The three-day IPO, which will close on July 25, comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 25.5 lakh shares by promoters. The company aims to raise ₹460.44 crore at the upper end of the price band, while its market value is pegged at around ₹2,702 crore.

The anchor book for institutional investors will open a day on July 22. The shares of GNG Electronics are expected to be listed on both BSE and NSE on July 30, while allotments are expected to be finalised on July 28.

The lot size for an application is 63 and in multiple of thereafter. The minimum amount for retail investor is ₹14,175 for one lot, or 63 shares, and maximum is ₹1,94,103 for 13 lots, or 819 shares.

GNG Electronics IPO has reserved up to 50% of the shares for qualified institutional buyers (QIB), up to 15% for non-institutional investors (NII), and up to 35% for retail investors.

The company plans to utilise the capital raised from issuance of fresh equities primarily to reduce its debt by ₹320 crore, with the remaining funds earmarked for general corporate purposes, including expansion and operational improvements.

Established in 2006, GNG Electronics specialises in the refurbishment of laptops, desktops, and ICT devices, serving customers across India and global markets. Operating under the brand “Electronics Bazaar”, GNG operates five refurbishment facilities across India, the United States, and the UAE. Its business model covers the entire value chain, staring from sourcing and refurbishing to sales, after-sales service, and warranty support.

GNG Electronics provides customized buyback solutions for laptops and desktops, helping large-format retailers and OEM brand outlets streamline their upgrade programs. The company works with leading names such as Vijay Sales, HP India, and Lenovo India to enable smooth, customer-centric buyback initiatives that support the sale of new devices and enhance the overall retail experience.

On the earnings front, the company has shown consistent financial growth, with revenue increasing from ₹1,138.1 crore in FY24 to ₹1,420.37 crore in FY25, and net profit rising from ₹52.31 crore to ₹69.03 crore during the same period.

Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the lead managers to the issue, while Bigshare Services will act as the registrar.