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4w ago

GNG Electronics IPO Debuts With 50% Listing Gain

An oversubscription of nearly 150 times underscores investor confidence in funding debt repayment through the Rs 460.43-crore IPO.

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GNG Electronics IPO: stock market debut today; will it deliver a strong listing pop

Overview

  • Shares debuted at Rs 355 on the NSE and Rs 350 on the BSE, reflecting a 49.8% premium over the Rs 237 issue price.
  • The IPO comprised a Rs 400-crore fresh issue and a Rs 60.43-crore offer-for-sale priced between Rs 225 and Rs 237 per share with a lot size of 63 shares.
  • Overall subscription reached 147.93 times, driven by qualified institutional buyers at 266.21 times, non-institutional investors at 227.67 times and retail applicants at 46 times their quotas.
  • GNG Electronics will allocate fresh issue proceeds to repay debt, bolster working capital and support its global refurbishment network.
  • Founded in 2006 as Electronics Bazaar, the company refurbishes laptops, desktops and ICT devices across India, the US, Europe, Africa and the UAE.