Your Complete Guide to the GNG Electronics IPO
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Why This IPO Matters
GNG Electronics (branded as "Electronics Bazaar") isn’t just another tech company. It’s India’s #1 refurbisher of laptops & desktops and a global leader in the ICT refurbishment space.
With certifications from giants like Lenovo and HP, they’ve built a vertically integrated model—sourcing, fixing, selling, and supporting devices across 5 continents.
This GNG Electronics IPO is a rare chance to tap into the booming circular economy.
IPO Snapshot: Dates, Price & Size
| IPO Open Date | July 23, 2025 |
| IPO Close Date | July 25, 2025 |
| Tentative Listing | July 30, 2025 (BSE & NSE) |
| Price Band | ₹225 to ₹237 per share |
| Lot Size | 63 shares (Retail: ₹14,175 to ₹14,931) |
| Total Issue Size | ₹460.43 crores |
| Fresh Issue | ₹400 cr (for debt repayment + working capital) |
| Offer for Sale (OFS) | ₹60.44 cr (promoters selling partial stakes) |
Financial Firepower: Growth That Stands Out
The GNG Electronics IPO financials reveal explosive traction. This isn’t just growth—it’s scalable growth. Revenue nearly doubled in a year, proving their model works globally. Debt reduction plans post-IPO could further boost margins.
| Metric | FY23 | FY24 | Growth |
|---|---|---|---|
| Revenue | ₹662.79 cr | ₹1,143.80 cr | +73% |
| Net Profit (PAT) | ₹32.43 cr | ₹52.31 cr | +61% |
| PAT Margin | 4.9% | 5.8% | Improving |
| ROCE | - | 8.43% | Steady |
Peer Smackdown: GNG vs. The Competition
How does this GNG Electronics IPO stack up? Let’s compare with Newjaisa Tech, the only other listed peer in this space.
| Metric | GNG (FY24) | Newjaisa (FY24) | GNG’s Edge |
|---|---|---|---|
| Revenue | ₹1,144 cr | ₹61.8 cr | 18.5x larger! |
| EPS (₹) | ₹5.37 | ₹2.29 | 135% higher |
Verdict:
GNG dominates in scale and profitability. The refurbishment niche has limited players, making this IPO a unique play.
Subscription & Allotment: What to Expect
GNG Electronics IPO subscription opens July 23. You can monitor demand via broker apps like Zerodha or Upstox. The retail quota is likely to be competitive!
Allotment Timeline:
- July 28, 2025: Basis of allotment final.
- July 29, 2025: Shares credited to demat accounts.
- July 30, 2025: Listing celebrations (or sweaty palms)!
Pro Tip:
Apply via UPI/ASBA. The UPI mandate cutoff is 5 PM on July 25—don’t miss it!
The Elephant in the Room: GNG IPO Review
Analyst ratings aren’t out yet (check back after July 23!), but here’s what we can assess based on available information:
Strengths:
- Market leadership + certified partnerships (HP/Lenovo = quality trust).
- Asset-light model: Refurbishing is high-margin vs. manufacturing.
- Global reach: 30% of revenue comes from the US/EU, diversifying risk.
Watchouts:
- Supply chain risks: Sourcing used devices can be volatile.
- Competition: Unorganized players might undercut prices.
Employee Pulse (via AmbitionBox):
A 3.5/5 rating. Employees praise the company culture, health policies, and management—a positive signal for operational stability.
Final Take: Should You Apply?
This GNG Electronics IPO is a compelling growth story. At ₹237/sh (upper band), it’s priced at ~44x FY24 EPS —steep for traditional hardware but potentially justified for a scalable refurbishment leader.
Smart Investor Moves:
- Watch GNG Electronics IPO subscription data (especially retail and QIB interest).
- Wait for analyst reviews to be published after the IPO launches.
- If you are bullish on the circular economy, consider applying within the ₹225–₹237 price band.
Bottom line: High growth, niche leadership, and global scalability make this IPO worth your radar. It's not without risks, but the upside could electrify portfolios.
