Price Band fixed at Rs. 225 to Rs 237 per equity share of face value of Rs. 2 each (“Equity Shares”)
Bid /Issue Opening Date – Wednesday, July 23, 2025 and Bid/Issue Closing Date – Friday, July 25, 2025
Anchor Date – The Anchor Investor Bidding Date is one working day prior to bid/offer opening date, being Tuesday, July 22, 2025.
Bids can be made for a minimum of 63 Equity Shares and in multiples of 63 Equity Shares thereafter.
RHP Link:
https://www.electronicsbazaar.com/media/investor/Red_HerringProspect.pdf
National, July 18, 2025 ( TGN ) : GNG Electronics Limited (“COMPANY”), shall open its Bid/Offer in relation to its initial public offer of Equity Shares on Wednesday, July 23, 2025. The Anchor Investor Bidding Date is one working day prior to bid/offer opening date, being Tuesday, July 22, 2025. The Bid/ Offer Closing Date is Friday, July 25, 2025.
The total offer size comprises of a fresh issue of equity shares of face value of ₹2 each aggregating up to ₹ 400 Crores and an offer for sale of up to 2,550,000 equity shares of face value of ₹ 2 each. (“Total Offer Size”).
Price Band of the issue is fixed at Rs. 225 to Rs 237 per equity share. (“The Price Band”).
Bids can be made for a minimum of 63 Equity Shares and in multiples of 63 Equity Shares thereafter. (“Bid Lot”).
The Company proposes to utilize the Net Proceeds towards the 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 and general corporate purposes.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis by our Company, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (the “Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors (“Non-Institutional Portion”) of which one-third of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 0.20 million and up to ₹ 1.00 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 1.00 million and undersubscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Bidders in the other sub-category of the Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
Further, not less than 35% of the Offer shall be available for allocation to Retail Individual Investors (“Retail Portion”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or pursuant to the UPI Mechanism, as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.
Further, not more than 15% of the Net Issue shall be available for allocation to Non- Institutional Bidders (“NIBs”) of which (a) one third portion shall be reserved for Bidders with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-thirds of the portion shall be reserved for Bidders with application size of more than ₹1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in other sub-category of the NIBs in accordance with SEBI ICDR Regulations and not more than 10% of the Net Issue shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price.
All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID (in case of UPI Bidders (defined herein) using the UPI Mechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Issue. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Issue through the ASBA process.
Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and JM Financial Limited are the sole Book Running Lead Managers to the issue
About the Company
GNG Electronics Limited is India’s largest refurbisher of laptops and desktops and among the largest refurbishers of ICT Devices overall, both globally and in India with significant presence across India, USA, Europe, Africa and UAE, in terms of value, as of March 31, 2025 (Source: 1Lattice Report). The Company is India’s largest Microsoft authorised refurbisher, in terms of refurbishing capability, as of FY25. (Source: 1Lattice Report) The Company also serve as an IT asset disposal partner for India’s second largest software company, in terms of market capitalisation as of Fiscal 2025, procuring their used IT assets. (Source: 1Lattice Report) The Company operates under the brand “Electronics Bazaar”, with presence across the full refurbishment value chain i.e., from sourcing to refurbishment to sales, to after – sale services and providing warranty. The Company is a certified refurbishment partner with Lenovo and HP which are top two global brands, in terms of market share of 26% and 22%, respectively, as of CY 2024 (Source: 1Lattice Report). The Company provides tailored buyback solutions to help large format retail stores such as Vijay Sales (India) Private Limited and OEM brand stores such as HP India Sales Private Limited and Lenovo Global Technology (India) Private Limited. The Company has a multi – channel global procurement network of 557 suppliers supported by an extensive procurement network in India and across the globe. As of March 31, 2025, the portfolio included 5,840 SKUs. They have sales network with the refurbished ICT Devices being sold in 38 countries comprising 4,154 touchpoints, in India and globally, as of March 31, 2025. The Company has five refurbishing facilities located across India, USA and UAE with one facility in Navi Mumbai, Maharashtra, India, one facility in Dallas, Texas, USA and three facilities in Sharjah, UAE, aggregating to 58,127.82 sq. ft.
