Overview

• GNG Electronics’ IPO opened July 23–25 with a price band of Rs 225–237 per share, a minimum lot size of 63 shares, allotment set for July 28 and listing on July 30
• Anchor investors including Motilal Oswal, Mirae Asset, Edelweiss and Goldman Sachs committed Rs 138 crore at the upper end of the price band
• The grey market premium jumped to Rs 105 per share on the first day of bidding, implying a potential 44% listing gain over the issue price
• Early subscription data shows retail bids at 0.94x and non-institutional investors at 1.68x, while QIB demand trailed at just 0.01x of its allocation
• Proceeds from the fresh Rs 400 crore issue will be used to repay debt and fund corporate purposes after the company posted FY25 revenue of Rs 1,420.37 crore and PAT of Rs 69.03 crore