GNG Electronics Limited’s ₹400 Cr IPO to Open on July 23, 2025
GNG Electronics IPO Opens July 23 with ₹400 Cr Fresh Issue
India’s Top ICT Refurbisher Sets IPO Price Band at ₹225–₹237
BILKULONLINE | Ahmedabad | July 20, 2025
GNG Electronics Limited, India’s largest refurbisher of laptops and desktops, will open its Initial Public Offering on July 23, 2025, with a price band of ₹225–₹237 per share. The IPO includes a fresh issue worth ₹400 crore and an offer for sale of 25.5 lakh shares. The company aims to repay borrowings and fund general corporate needs. Bidding closes on July 25, with the anchor portion opening on July 22.
India’s largest ICT device refurbisher plans global expansion; price band set at ₹225–₹237 per share
GNG Electronics Limited, a leading global player in the refurbishment of laptops and desktops, is all set to launch its Initial Public Offering (IPO) on Wednesday, July 23, 2025, with the issue closing on Friday, July 25, 2025. The Anchor Investor bidding will open a day earlier on Tuesday, July 22, 2025.
The IPO comprises a fresh issue of equity shares aggregating up to ₹400 crore and an Offer for Sale (OFS) of up to 25.5 lakh equity shares. The price band has been fixed at ₹225 to ₹237 per equity share of face value ₹2 each. Bids can be placed for a minimum of 63 shares and in multiples thereafter.
IPO Structure and Use of Proceeds
- The Company plans to utilise the net proceeds from the fresh issue towards:
- Prepayment or repayment of certain borrowings of the Company and its subsidiary, Electronics Bazaar FZC
- General corporate purposes
“We are excited to bring our IPO to market and look forward to expanding our global footprint even further. The proceeds will strengthen our operational capabilities and accelerate innovation in the refurbishment segment,” said Ajay Pancholi, Director, GNG Electronics Ltd.
“We have built a purpose-driven business, offering sustainable tech solutions that reduce e-waste and democratise device ownership. This IPO will fuel our next phase of growth,” added Sharad Khandelwal, Founder and Managing Director.
Raakesh Jhunjhunwala, CFO of GNG Electronics, noted, “Sound financial governance has been the backbone of our expansion. This public offering is a significant step towards long-term value creation for our stakeholders.”
Speaking on behalf of the lead managers, Nitesh Kumar Yadav, Associate at IIFL Capital Services, stated, “GNG’s offering reflects the growing investor appetite for sustainability-focused tech ventures. This IPO stands out for its strong fundamentals and global ambition.”
The offer is being made through the book building process, in accordance with SEBI ICDR Regulations. The allocation will be as follows:
QIBs (Qualified Institutional Buyers): Not more than 50%, with up to 60% reserved for Anchor Investors
Non-Institutional Investors (NIIs): Not less than 15%, divided into two sub-categories based on application size
Retail Individual Investors (RIIs): Not less than 35%
All investors, except Anchor Investors, will participate via the Application Supported by Blocked Amount (ASBA) process, with UPI ID required for UPI-based bidders.
India’s Leading Refurbishment Brand
As per the 1Lattice Report, GNG Electronics is:
India’s largest Microsoft-authorised refurbisher
Among the top global refurbishers of ICT devices
The IT asset disposal partner for India’s second-largest software company (by market capitalisation)
Operating under the brand “Electronics Bazaar”, the company has a robust presence across the entire refurbishment value chain—from procurement to refurbishment, resale, and after-sales services.
- With five refurbishing facilities across India (Navi Mumbai), USA (Dallas), and UAE (Sharjah), GNG Electronics boasts a total facility area of 58,127.82 sq. ft. As of March 31, 2025, it offered 5,840 SKUs, supported by 557 global and Indian suppliers, and served 4,154 touchpoints across 38 countries.
“We are excited to bring our IPO to market and look forward to expanding our global footprint even further. The proceeds will strengthen our operational capabilities and accelerate innovation in the refurbishment segment,” said a GNG Electronics spokesperson.
Book Running Lead Managers
Motilal Oswal Investment Advisors Limited
- IIFL Capital Services Limited (formerly IIFL Securities Limited)
- JM Financial Limited
- Investor Information
Note: Investors are advised to read the RHP carefully before investing, as equity shares involve a high degree of risk. For detailed risk factors, refer to the “Risk Factors” section of the RHP.
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