Until 11:06 am, the issue was subscribed to 1.6 times overall. The NII category saw a subscription 2.96 times, while the retail part received 1.91 times the bid allotted. Eligible institutional buyers (QIB) subscribed to 3% of their quota so far.
In the gray market, GNG electronics shares were quoting at a premium of Rs 98-1010, indicating a potential 41% side of the price band.
400 crore in IPOs and Rs. Offer fur (OFS) for sale of Rs 60.44 crore. The price band is fixed at Rs 225-2237 per share, translating into a P/E ratio of 33.3x based on the earnings of FY 25.
Next to the IPO, the company on July 22 collected Rs 138 crore from anchor investors by allocating 58 lakh shares.
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Should you subscribe?
SBI Securities and Canara Bank Securities have both given a “subscribed” rating by citing the company’s scale, growth pace and strategic position.
“GNG operates a fragmented but fast formal portrait market. With operations in 38 countries, 9.9 lakh devices are renovated in FY 25, and 46% of income on FY 23-FY25, CAGR, demand for affordable and ESG tailwinds is well-posed.”
About the company
GNG Electronics is India’s largest innovation of laptops, deskt OPSP and other devices under the electronics market brand. The company has increased its renewed device volume to 9.9 lakh units in FY 25, which is more than 2.5 lakh in FY 23. Its achievement partner network also expanded to 265 in the same period.
The rest comes from OPS, P, tablets, servers, smartphones and other electronics, laptop contributes 75.6% of the revenue of FY 25. GNG He has a global presence in 38 countries and works with 4,154 customer touchpoints by March 2025.
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Financial and evaluation
GNG Electronics doubled its income and profit in two years. He paid Rs. 659.5 crore and Rs. Compared to Rs 659.5 crore, Rs. 1,411 crore income and net profit of Rs 69 crore. During this period its EBITDA margin has risen from 7.6% to 8.9%.
However, the working capital has increased to Rs 261 crore in the financial year 25, which is 2.5 times higher than the fiscal year. Based on the financial year 25 earnings and the post -IPO equity, the company’s value is up to 39 P/E multiple. GNG currently has no peer listed directly on the main board.
Key dates
- IPO Opening: July 23 to 25 July, 2025
- Date of allocation: Monday, July 28
- Tentive Listing: Wednesday, July 30 (BSE and NSE)
Head administrators
Motilal Oswal Investment Advisors Limited is the lead manager running the book, and Bigshar Services Pvt. This is the registrar of the issue.
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
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