GNG Electronics has opened its IPO to raise Rs 460 crore, which includes:
Fresh shares: Rs 400 crore
Shares sold by existing investors: Rs 60.44 crore
Price per share: Rs 225-237
Valuation: P/E ratio of 33.3 times (based on FY25 profit)
Anchor investments
Ahead of the IPO, on July 22, GNG had raised Rs 138 crore from large investors by selling over 58 lakh shares.
Grey Market Premium (GMP)
The premium of the IPO in the grey market is 44%. This indicates keen interest from buyers and the possibility of a good listing price.
What the company does
GNG operates its business under the name “Electronics Bazaar” and deals with refurbished technical equipment. It offers the following services:
Buying old equipment
Repairing and testing them
Reselling them
After-sales support
Buying them back later
This business helps reduce e-waste and support green, sustainable practices.
Financial performance (FY25 estimates)
Revenue: ₹1,420 crore (24% growth)
Profit (PAT): ₹69 crore (32% growth)
