GNG Electronics Limited is flipping the script on electronic waste. With a bold mission to breathe new life into laptops, desktops, and ICT devices, this company has positioned itself as a global powerhouse in the refurbishing ecosystem.
Operating under the dynamic brand “Electronics Bazaar”, GNG Electronics isn’t just another refurbisher—it’s a full-stack solution provider. From sourcing and refurbishment to sales, warranty, and after-sales support, the company offers an end-to-end tech transformation experience. Think of it as a second chance for gadgets, with first-class service.
But GNG doesn’t stop at just fixing what’s broken. It’s also creating value-added offerings like:
- IT Asset Disposition (ITAD)
- Eco-friendly e-waste management
- Doorstep service and on-site installation
- Flexible payment plans
- Easy upgrades and assured buyback programs
Its customized buyback solutions for retail giants like Vijay Sales and OEMs such as HP and Lenovo have made it a go-to partner for brands aiming to deliver seamless device upgrade programs to customers.
As of March 31, 2025, GNG’s refurbished tech network has touched 38 countries with over 4,154 touchpoints, supported by a strong workforce of 1,194 employees. Whether it’s India, the USA, Europe, Africa, or the UAE, GNG Electronics is leaving its green footprint—one refurbished device at a time.
GNG Electronics IPO – Details
| IPO Opening Date | 23 July 2025 |
| IPO Closing Date | 25 July 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,94,27,637 Shares Worth ₹460.43 Crore Fresh Issue: 1,68,77,637 Shares Worth ₹400.00 Crore Offer For Sale: 25,50,000 Shares Worth ₹60.44 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹225 – ₹237 per share |
| Market Lot | 63 Shares |
| Min Order | 63 Shares [ 1 LOT ] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
GNG Electronics IPO – Date Schedule
| IPO Open Date | 23 July 2025 |
| IPO Close Date | 25 July 2025 |
| Basis of Allotment | 28 July 2025 |
| Initiation of Refund | 29 July 2025 |
| Credit of Shares to Demat Account | 29 July 2025 |
| IPO Listing Date | 30 July 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 25, 2025 |
GNG Electronics IPO – Lots Size & Price
| 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 |
Competitive Strength
- India’s largest refurbisher of laptops and desktops, and among the largest refurbishers of ICT devices overall, both globally and in India.
- We are a company with domestic and international operations with five refurbishing facilities across India, the USA, and the UAE.
- Strong global supply chain, established sourcing base with a long tail of vendors, and a wide customer base;
- Well – established refurbishing capabilities and state–of–the–art infrastructure, with a focus on quality;
- Well-positioned to harness the global shift to sustainability and the growing focus on ESG;
- Experienced management team and qualified personnel with significant industry experience; and
- Track record of profitability and consistent financial performance.
Company Promoters
- Sharad Khandelwal
- Vidhi Sharad Khandelwal
- Amiable Electronics Private Limited
- Kay Kay Overseas Corporation
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹662.79 Cr | ₹627.37 Cr | ₹32.43 Cr | ₹152.02 Cr |
| 31 March 2024 | ₹1,143.80 Cr | ₹1,086.47 Cr | 52.31 Cr | ₹322.33 Cr |
| 31 March 2025 | ₹1,420.37 Cr | ₹1342.02 Cr | 69.03 Cr | ₹446.92 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 30.40% |
| ROCE | 17.31% |
| Debt/Equity | 1.95 |
| RoNW | 30.40% |
| PAT Margin | 4.89% |
| EBITDA Margin | 8.94% |
| Price to Book Value | 10.17 |
| Pre IPO | Post IPO | |
| EPS (₹) | 7.11 | 6.05 |
| P/E (x) | 33.35 | 39.14 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| 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, namely, Electronics Bazaar FZC. | 320.00 |
| General corporate purposes. |
GNG Electronics IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 5 | Newjaisa Technologies Limited | – |
✅Strengths
- Global presence across 38 countries.
- End-to-end refurbishing model.
- Strong brand “Electronics Bazaar”.
- Trusted by HP, Lenovo, and Vijay Sales.
- Scalable and asset-light operations.
⚠️Risks
- Highly competitive market.
- A few customers drive major revenue.
- Regulatory and compliance challenges.
- Negative past cash flows.
- No long-term contracts.
GNG Electronics IPO Promoter Holding
| Pre Issue Share Holding | 95.01% |
| Post Issue Share Holding | 78.71% |
GNG Electronics IPO Prospectus
Company Contact Information
| GNG Electronics Ltd. Unit No. 415, Hubtown Solaris, N.S. Phadke Marg, Andheri (East), Mumbai, Maharashtra, 400069 Phone: +91 22 3123 658 Email: compliance@electronicsbazaar.com Website: https://www.electronicsbazaar.com/ |
GNG Electronics IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
GNG Electronics IPO Lead Manager(s)
| 1. JM Financial Limited 2. IIFL Capital Services Limited 3. Motilal Oswal Investment Advisors Limited |
GNG Electronics IPO FAQs
| What is GNG Electronics IPO? GNG Electronics IPO is a main-board IPO. The issue is priced at ₹225 to ₹237 per equity share. The IPO is to be listed on BSE & NSE. |
| When will GNG Electronics IPO open? The IPO is to open on 23 July 2025 for QIB, NII, and Retail Investors. |
| What is GNG Electronics’ IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the GNG Electronics IPO? You can apply GNG Electronics IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the GNG Electronics IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “GNG Electronics IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the GNG Electronics IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “GNG Electronics IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the GNG Electronics IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “GNG Electronics IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the GNG Electronics IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “GNG Electronics IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is GNG Electronics IPO Size? GNG Electronics IPO size is ₹460.43 Crore. |
| What is the GNG Electronics IPO Price Band? GNG Electronics IPO Price Band is ₹225 to ₹237. |
| What is GNG Electronics IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 63 Shares with ₹14,931 while the maximum bid is 819 Shares with ₹1,94,103. |
| What is the GNG Electronics IPO Allotment Date? GNG Electronics IPO allotment date is 28 July 2025. |
| What is the GNG Electronics IPO Listing Date? GNG Electronics IPO listing date is 30 July 2025. The IPO is to be listed on BSE and NSE. |
