GNG Electronics Ltd IPO Opens July 23 - ₹460Cr Fresh Issue

GNG Electronics Limited has announced its intention to go public. The refurbished electronics and ICT devices company based in Mumbai has not only generated substantial revenue and profits in recent times, but it also has large growth potential. The firm does business under the Electronics Bazaar brand and is India's largest refurbisher of laptops and desktops, focused on ICT devices with laptops, desktops, tablets, servers, and smartphones being the major players. The company uses a repair-over-replace model, offering sustainable technology solutions worldwide.

The price band of the IPO is between ₹225-₹237 per equity share and with a positive GMP of GNG Electronics IPO showing strong interest from the markets this stock should not only list with a good premium, but based on the GNG Electronics IPO GMP today - There is already substantial excitement among retail and institutional investors in the GNG Electronics IPO - Market followers are looking to a public offering speculation in the refurbished electronics industry.

IPO Dates for GNG Electronics Limited

The GNG Electronics Limited IPO is scheduled to open on July 23, 2025, and close on July 25, 2025. The Board of Allotment (BoA) date is expected to be announced by July 28, 2025, with listing planned for July 30, 2025.

IPO Details Summary

Investors are closely monitoring the GMP of GNG Electronics IPO, which currently shows strong demand ahead of listing. This IPO is also part of the growing GNG Electronics IPO list on the BSE and NSE platforms.

About GNG Electronics Limited

GNG Electronics Ltd, based in Mumbai, is the largest refurbisher of laptops and desktops in India, and a significant global refurbisher of other ICT devices. The company operates under the "Electronics Bazaar" brand and is an inexpensive and reliable refurbisher of technology for customers around the world. The company was established in 2006 and uses a "repair over replace" model of operation, and its refurbishment model highlights sustainability while making technology more affordable and accessible. 

The company is well located in Mumbai, the financial capital of India, with good logistics networks, human capital, and appropriate positioning to cater to the growing refurbished electronics market. As of March 31, 2025, GNG Electronics has 5,840 SKUs and operates through a sales network of 4,154 touchpoints within India and globally. The company is working with US companies such as Joy Systems Inc., HUBX LLC, PlanITROI LLC, and European companies such as PhoenixRM Ltd. 

GNG Electronics has identified that it is able to raise ₹460.43 crores through this IPO, including a fresh issue of ₹400 crore and an offer for sale of ₹60.43 crore for its growth and general corporate purposes to fund expansions, technology upgrades, cash requirements arising from operations, and to build its capacity to promote its market position. Investor interest at this stage and overall sentiment times will position GNG Electronics Ltd to participate in the growing demand for refurbished electronics.

Financial Performance of GNG Electronics Limited

The company has shown exceptional financial performance with consistent revenue growth and improving profitability across key metrics:

Performance Analysis

GNG Electronics Limited has demonstrated a remarkable growth trajectory with assets increasing from ₹285.5 Cr (Mar-23) to ₹719.5 Cr (Mar-25). Revenues have also demonstrated consistent growth from ₹662.8 Cr (Mar-23) to ₹1420.4 Cr (Mar-25), over double in two years. Profit after tax has increased significantly from ₹32.4 Cr (Mar-23) to ₹69.0 Cr (Mar-25), reflecting strong operational efficiency regardless of the significant improvements in profitability.

EBITDA, in fact, has more than doubled from ₹50.0 Cr (Mar-23) to ₹126.1 Cr (Mar-25), which means that the operational performance has been strong and there is evidence of solid cost management. The net worth of the company has also grown significantly from ₹111.6 cr to ₹226.5 cr, which stands testimony to adding solid value to its shareholder base.

It is evident that borrowings have grown to fund growth, but the debt-to-equity ratio is manageable, which indicates prudent financial management during a period of expansion.

IPO Share Reservation

The IPO share allocation follows standard SEBI guidelines for main board listings:

Strengths

• Revenue growth from ₹662.8 Cr to ₹1420.4 Cr shows a strong business model, with acceptance in the refurbished electronics space. 

• Considerable increase in PAT from ₹32.4 Cr to ₹69.0 Cr indicates strong operational efficiency and improvements in profit margins. 

• EBITDA increased from ₹50.0 Cr to ₹126.1 Cr, indicating strong operational efficiencies and cost control. 

• The company has a consistently growing net worth from ₹111.6 Cr to ₹226.5 Cr, which shows a strong financial foundation and value creation for shareholders. 

• Proximity to Mumbai implies a deep, skilled labour pool, and the financial ecosystem developed in the area provides supporting frameworks. 

• There are numerous application segments across markets from laptops to desktops, tablets, servers, and smartphones. 

• India’s growing pace of technology adoption, along with digital transformation, is driving demand for affordable refurbished electronics products.

• Market leadership position with largest refurbisher for India’s laptops and desktops, along with established "Electronics Bazaar" brand recognition. 

• Global footprint of operations across India, US, and Europe, which offers geographic opportunity for diversification and growth. 

• A global distribution network of 4,154 touchpoints and 5,840 SKUs delivers strong product reach and diversity of products. 

• A strong emphasis on sustainability with a repair-over-replacement model is consistent with a growing environmental awareness and circular economy movement, including similar competing models in other industries.

Risks

• The refurbished electronics sector is vulnerable to shifts in prices of new technology that affect pricing interface and profit margins. 

• There is significant competition as established electronics brands find brand recognition and an ability to distribute in the refurbished electronics space. 

• Heavy reliance on certain technologies, industries, or technology sectors may hurt revenue as demand declines in core product areas. 

• Technology is advancing quickly, and modernization of investment in refurbishment processes and sophisticated refurbished technology equipment and capabilities are constantly evolving and require investment. 

• Rapid and ongoing public policy changes in and/or potential structural changes with electronics import/export regulations or environmental regulations could impact operations. 

• The company has significant debt levels of ₹446.9 Cr; while they are manageable, they must be managed sufficiently to ensure continued positive returns on revenue. 

• There is a supply chain reliance on used electronics that may be impacted or become less reliable due to supply chain interruptions and continued availability. 

• Quality perception with the customer may be problematic if the customer believes refurbished products have low reliability or that performance capabilities are significantly inferior to new products.

 

How to Apply for GNG Electronics Limited IPO?

Step-by-step guide (when IPO opens):

1. Log in to your broker app (Zerodha, Angel One, Groww, etc.)
2. Navigate to the IPO section and select the GNG Electronics Limited IPO
3. Click "Apply"
4. Enter:
   • Lot size (63 shares minimum)
   • Bid price (₹225–₹237 or select Cut-Off)
   • Your UPI ID
5. Submit the application
6. Approve the UPI mandate in your UPI app (PhonePe, GPay, etc.)

⏰ Important: The mandate must be approved before 5 PM on the same day or before the IPO closes.

How to Check GNG Electronics Limited IPO Allotment Status?

You can check the GNG Electronics Limited IPO allotment status through BSE/NSE and the registrar portal once the IPO opens.

Check on BSE/NSE

• Visit the BSE or NSE official website
• Navigate to the IPO Allotment Section
• Select GNG Electronics Limited IPO
• Enter PAN number or application number
• Submit details to get the BSE GNG Electronics Limited IPO allotment status

Check on the Registrar Portal

• Visit Bigshare Services Pvt Ltd’s website
• Select IPO allotment status
• Choose GNG Electronics Limited IPO
• Enter PAN or application number
• Submit to check status

Company Address

Name: GNG Electronics Limited
Address: Unit No. 415, Hubtown Solaris, N.S. Phadke Marg, Andheri (East), Mumbai, Maharashtra, 400069
Phone: +91 22 3123 658
Email: compliance@electronicsbazaar.com
Website: www.electronicsbazaar.com

IPO Registrar

Name: Bigshare Services Pvt Ltd
Address: 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri(E), Mumbai - 400059
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: ipo.bigshareonline.com/IPO_Status.html

Conclusion

Evaluating and following GNG Electronics Limited as an investor means there will be a lot of opportunity for growth, along with solid financial performance. Revenue has doubled from ₹662.8 Cr to ₹1420.4 Cr, and the PAT has shown similar solid execution, increasing from ₹32.4 Cr to ₹69.0 Cr.  With an IPO price band of ₹225-₹237, a total issue of ₹460.43 crore, good GMP, and good interest in the overall market, all of this adds to a timely entry point for GNG Electronics for investors looking for exposure to the growing refurbished electronics market. 

In addition, GNG Electronics Limited, as a market leader being the biggest laptop/desktops refurbishing company in India, has a global distribution network of 4,154 touchpoints, and a sustainable business model adding competitive advantages from many angles. Furthermore, the growing acceptance of affordable technology solutions and environmental awareness is increasing support for circular economy models, creating good tailwinds working for GNG Electronics. 

While there is a bright future for GNG Electronics Limited, investors should always be considerate of risks that are just a few: common technology obsolescence, supply chain dependency, and evaluations of the overall refurbishing electronics marketplace and competitiveness. For growth-oriented investors looking to gain exposure to an emerging sustainable technology company, GNG Electronics Limited has highlighted an amazing opportunity to fill that gap based on the high GNG Electronics IPO GMP, along with well-defined financial fundamentals.

In the end, all investors must do their homework and consider their risk tolerance level before investing. For those who are less familiar with risks and exposures to equity markets, it may be prudent to work with a financial advisor.

Disclaimer : This analysis is for educational purposes and not financial advice. Please consult a financial advisor before making investment decisions.

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