GNG Electronics, which focuses on refurbishing laptops and desktops, will launch its subscription today (Wednesday, July 23) and will wrap up on Friday, July 25. GNG Electronics IPO price band has been set between ₹225 and ₹237 per share. At the higher end of this price range, the company’s market capitalisation surpasses ₹2,700 crore.
GNG Electronics IPO comprises a fresh issue of equity shares totaling ₹400 crore and an offer for sale (OFS) of 2.55 million equity shares by promoters, valued at ₹60.43 crore at the upper end of the price range. This results in an overall issue size of ₹460.43 crore.
The proceeds from the fresh issue will be used for debt repayment, supporting working capital needs, and for general corporate purposes.
GNG Electronics is recognized as one of the top refurbishers of laptops and desktops, with a strong presence in India, the US, Europe, Africa, and the UAE.
Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are serving as the book-running lead managers for this issue.
(Stay tuned for more updates)
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