GNG Electronics Sets IPO Price Band at ₹225–₹237; Issue Opens July 23

GNG Electronics, a leading player in India’s refurbished IT hardware market, has announced the price range for its upcoming initial public offering. The IPO, which opens for public subscription on July 23, will be priced between ₹225 and ₹237 per equity share, the company said on Friday. Bidding for anchor investors will open on July 22. At the higher end of the band, the company is valued at a little over ₹2,700 crore.

Issue Structure and Objective

The total offer size is pegged at ₹460.43 crore. This includes a fresh issue worth ₹400 crore, along with an offer for sale (OFS) of 25.5 lakh shares by promoters. The OFS portion is expected to raise ₹60.43 crore if priced at the upper band.

GNG Electronics plans to use the proceeds from the fresh issue to repay debt, meet working capital needs, and for general corporate purposes. The company has outlined its funding strategy in the draft red herring prospectus filed with regulators.

Refurbished Tech, Global Reach

GNG is best known for its consumer-facing brand Electronics Bazaar, under which it refurbishes and sells devices like laptops, desktops, tablets, servers, and mobile workstations. The company also handles premium smartphones and accessories, all refurbished to high technical standards.

Its refurbishment process spans sourcing, restoration, testing, resale, and after-sales support a full-stack model that allows it to offer used electronics that closely mirror new devices in performance and appearance.

By following this model, GNG is able to offer refurbished laptops at nearly one-third the cost of new devices. Other products, including desktops and smartphones, are typically sold at 35–50% below the price of new ones.

Though headquartered in India, GNG has steadily expanded its international footprint, with a presence in markets like the United States, Europe, Africa, and the UAE.

Investor Allocation and Listing Timeline

As per regulatory guidelines, 50% of the issue is earmarked for Qualified Institutional Buyers (QIBs). The remaining is divided between retail investors (35%) and non-institutional investors (15%).

Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are acting as book-running lead managers for the offering. GNG Electronics is expected to debut on the stock exchanges on July 30.

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