July 2025 continues to showcase a dynamic landscape for SME IPOs, offering a crucial pathway for promising companies to access capital for expansion. In this active market, GNG Electronics Ltd., a specialised firm in refurbished laptops, desktops, and ICT devices, is set to launch its IPO on July 23, 2025. This significant offering represents a strategic move for GNG Electronics to leverage public investment for its upcoming growth initiatives. For those seeking fresh opportunities in India’s evolving electronics and circular economy sectors, understanding this IPO is essential for making informed investment decisions.
This article provides a comprehensive overview of the GNG Electronics IPO details, offering key insights for potential investors.
About GNG Electronics Ltd.
Established in 2006, GNG Electronics Ltd. operates prominently in the refurbished electronics sector, primarily under its brand “Electronics Bazaar.” The company offers a complete lifecycle of services for laptops, desktops, and various Information and Communication Technology (ICT) devices, spanning from their initial sourcing to comprehensive after-sale support, including warranties.
Beyond refurbishing, GNG Electronics provides valuable IT Asset Disposition (ITAD) and e-waste management services. They also develop tailored buyback solutions for major retail chains, such as Vijay Sales, and Original Equipment Manufacturers (OEMs) like HP and Lenovo. As of March 31, 2025, GNG Electronics has built an extensive sales network reaching 38 countries with 4,154 touchpoints, supported by a workforce of 1,194 employees. The company’s strengths lie in its comprehensive service offerings, global reach, and robust partnerships.
GNG Electronics Ltd. IPO Details
The GNG Electronics IPO is a book-building issue aiming to raise ₹460.43 crore. This includes a fresh issue of 1.69 crore shares (₹400.00 crore), alongside an Offer for Sale (OFS) of 0.26 crore shares (₹60.44 crore).
Important IPO Timeline
| Event | Date |
| IPO Open Date | Wed, Jul 23, 2025 |
| IPO Close Date | Fri, Jul 25, 2025 |
| Tentative Allotment | Mon, Jul 28, 2025 |
| Initiation of Refunds | Tue, Jul 29, 2025 |
| Credit of Shares to Demat | Tue, Jul 29, 2025 |
| Tentative Listing Date | Wed, Jul 30, 2025 |
| Cut-off time for UPI confirmation | 5 PM on July 25, 2025 |
Key IPO Details
| Particulars | Details |
| IPO Date | July 23, 2025 to July 25, 2025 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Issue Price Band | ₹225 to ₹237 per share |
| Lot Size | 63 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,94,27,637 shares (aggregating up to ₹460.43 Cr) |
| Fresh Issue | 1,68,77,637 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 25,50,000 shares of ₹2 (aggregating up to ₹60.44 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 9,71,33,880 shares |
| Shareholding Post-Issue | 11,40,11,517 shares |
Lot Size of GNG Electronics Ltd. IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 63 | ₹14,931 |
| Retail (Max) | 13 | 819 | ₹1,94,103 |
| S-HNI (Min) | 14 | 882 | ₹2,09,034 |
| S-HNI (Max) | 66 | 4,158 | ₹9,85,446 |
| B-HNI (Min) | 67 | 4,221 | ₹10,00,377 |
GNG Electronics Ltd. Financials
GNG Electronics Ltd. has demonstrated consistent financial performance. Its revenue from operations grew by 24% from ₹1,145.45 crore in FY24 to ₹1,420.37 crore in FY25. Concurrently, the Profit After Tax (PAT) experienced a notable increase of 32%, rising from ₹52.30 crore in FY24 to ₹69.03 crore in FY25.
Key Performance Indicators (as of Mar 31, 2025)
- Market Capitalization: ₹2702.07 Cr
- Return on Equity (ROE): 30.40%
- Return on Capital Employed (ROCE): 17.31%
- Debt-to-Equity Ratio: 1.95
- Return on Net Worth (RoNW): 30.40%
- PAT Margin: 4.89%
- EBITDA Margin: 8.94%
- Price to Book Value: 10.17
- Pre IPO EPS (Rs): 7.11
- Post IPO EPS (Rs): 6.05
- Pre IPO P/E (x): 33.35
- Post IPO P/E (x): 39.14
Company Financial Snapshot
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 719.46 | 586 | 285.50 |
| Revenue | 1,420.37 | 1,144 | 662.79 |
| Profit After Tax | 69.03 | 52 | 32.43 |
| EBITDA | 126.14 | 85 | 50.04 |
| Net Worth | 226.46 | 163 | 111.6 |
| Reserves and Surplus | 176.61 | 132.68 | 81.13 |
| Total Borrowing | 446.92 | 322.33 | 152.02 |
GNG Electronics Ltd.: Industry Outlook
- Booming Refurbished Market: India’s refurbished electronics market is growing rapidly, driven by rising consumer demand for affordable devices and environmental awareness, with projections reaching significant valuations by 2030.
- Rising E-Waste Volumes: As technology advances, e-waste is increasing, creating opportunities for organised recycling and asset disposition services.
- Increased ITAD Demand: The need for secure IT Asset Disposition (ITAD) is growing due to stricter data security regulations and corporate sustainability efforts.
- Government Support for Circular Economy: Indian policies, such as stricter E-Waste Management Rules, are formalising the sector and promoting a circular economy, benefiting organised players like GNG Electronics.
- Technological Integration: Advanced diagnostics, automated processes, and improved logistics are boosting efficiency and consumer trust in refurbished electronics.
Use of IPO Proceeds
The proceeds from the fresh issue portion of GNG Electronics Ltd.’s IPO are primarily intended for:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and the Material Subsidiary, Electronics Bazaar FZC | 320 |
| 2 | General Corporate Purposes |
Conclusion
GNG Electronics Ltd.’s upcoming IPO presents a compelling opportunity for investors interested in India’s growing refurbished electronics and IT asset management sectors. Established in 2006, the company is positioned to use public capital to continue its growth and expand its market presence.
With strong financial performance and a favourable industry outlook—driven by increasing demand for refurbished goods, e-waste management regulations, and circular economy trends—GNG Electronics has significant potential. Prospective investors should assess the company’s fundamentals, competition, and their financial goals before investing. This IPO offers an opportunity to engage with a company leading sustainable electronics solutions in India.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
