GNG Electronics IPO Day 3 Highlight: Check GMP, Review, Key Dates, and More

GNG Electronics IPO Day 3 Highlight:-The GNG Electronics IPO Day 3 Highlights have taken the Indian stock market by storm, with investors buzzing about the opportunity to invest in one of India’s leading refurbishers of laptops and desktops. As the IPO subscription window closed on July 25, 2025, the overwhelming response and rising grey market premium (GMP) signal strong listing potential. Are you wondering whether to apply, how to check GMP, or what the key dates and expert reviews reveal about this IPO? This comprehensive, SEO-optimized article dives into every detail you need to make an informed investment decision, ensuring you don’t miss out on this exciting opportunity in the refurbished electronics sector.

In this guide, we’ll cover the GNG Electronics IPO Day 3 Highlights, including subscription status, GMP trends, expert reviews, key dates, financials, and more. Whether you’re a retail investor, a non-institutional investor (NII), or a qualified institutional buyer (QIB), this article provides actionable insights to help you navigate this high-growth IPO. Let’s explore why GNG Electronics is making waves and whether it’s the right investment for you.

What Is the GNG Electronics IPO?

Overview of GNG Electronics

GNG Electronics Limited, operating under the brand Electronics Bazaar, is India’s largest refurbisher of laptops and desktops and a global leader in information and communication technology (ICT) device refurbishment. Founded in 2006, the company specializes in sourcing, refurbishing, selling, and providing after-sales services for devices like laptops, desktops, tablets, servers, and smartphones. With a presence in 38 countries and partnerships with global giants like HP, Lenovo, and Microsoft, GNG Electronics is well-positioned in the fast-growing refurbished electronics market.

The GNG Electronics IPO is a ₹460.43 crore book-building issue comprising a fresh issue of ₹400 crore and an offer for sale (OFS) of 25.5 lakh equity shares worth ₹60.44 crore. The IPO opened for subscription on July 23, 2025, and closed on July 25, 2025, with shares priced between ₹225 and ₹237. The proceeds will primarily be used for debt repayment, working capital, and general corporate purposes, strengthening the company’s financial position and fueling its expansion plans.

Why the GNG Electronics IPO Matters

The refurbished electronics market is booming, driven by affordability, sustainability, and the shift from unorganized to organized sectors. According to industry forecasts, the global refurbished PC market is expected to grow at a CAGR of 18.9% from 2024 to 2029, while the Indian market is projected to expand at an impressive 31.3% CAGR from 2025 to 2030. GNG Electronics, with its asset-light business model and global footprint, is poised to capitalize on these trends, making its IPO a compelling opportunity for investors seeking exposure to a high-growth, ESG-aligned business.

GNG Electronics IPO Day 3 Highlights

Subscription Status: A Blockbuster Response

The GNG Electronics IPO Day 3 Highlights showcase an extraordinary investor response, with the issue subscribed 146.90 times by the close of bidding on July 25, 2025. According to BSE data, the IPO received bids for over 208.43 crore equity shares against the 1.41 crore shares offered, reflecting massive demand across all investor categories. Here’s a breakdown of the subscription status as of 5:06 PM IST on Day 3:

• Retail Investors: Subscribed 45.31 times, with bids for over 6.4 crore shares against the 67.99 lakh shares allocated.
• Non-Institutional Investors (NIIs): Subscribed 226.45 times, with bids for over 32 crore shares against the 30.49 lakh shares reserved.
• Qualified Institutional Buyers (QIBs): Subscribed 266.21 times, with bids for over 37 crore shares against the 98.53 lakh shares allocated.
• Anchor Investors: Allocated 58.28 lakh shares, raising ₹138.13 crore before the public issue opened.

This overwhelming subscription underscores the strong investor confidence in GNG Electronics’ growth story, driven by its leadership in the refurbished ICT sector and robust financial performance.

Grey Market Premium (GMP): A Bullish Signal

The GNG Electronics IPO GMP has been a key indicator of investor sentiment. As of July 25, 2025, the GMP stood at ₹100, indicating a potential listing price of ₹337 per share—a 42.19% premium over the upper price band of ₹237. The GMP has shown an upward trend over the past week, rising from a low of ₹40 on July 19 to a high of ₹105 on July 23. This suggests strong listing gains, making the IPO attractive for investors seeking short-term profits.

Note: The grey market premium is speculative and not an official price. Investors should consider GMP alongside fundamental analysis before making decisions.

Key Dates to Remember

To help you stay on track, here are the key dates for the GNG Electronics IPO:

Investors can check the allotment status on the registrar’s website, Bigshare Services Pvt Ltd (https://ipo.bigshareonline.com/IPO_Status.html), or through their brokers.

Expert Reviews: Should You Subscribe?

Brokerages have overwhelmingly recommended a “Subscribe” rating for the GNG Electronics IPO, citing its strong fundamentals, market leadership, and growth potential. Here’s a summary of expert reviews:

• Canara Bank Securities: “GNG Electronics is well-positioned to benefit from favorable industry dynamics and an expanding global presence. The IPO is priced at a P/E ratio of 33.43x and P/BV of 10.17x based on FY25 earnings, which appears justifiable given its growth potential and asset-light strategy. We recommend SUBSCRIBE for knowledgeable investors with a medium to long-term horizon.”
• SBI Securities: “The global and Indian refurbished PC markets are projected to grow at CAGRs of 18.9% and 31.3%, respectively, through 2029/2030. GNG’s debt repayment plan will reduce interest expenses and boost profitability. We advise investors to SUBSCRIBE at the cut-off price.”
• Anand Rathi Shares & Stock Brokers: “The company’s first-mover advantage in B2B electronics refurbishment and a P/E of 39.1x based on FY25 earnings make it fairly valued. We recommend SUBSCRIBE for long-term investors.”
• Arihant Capital: “GNG’s leadership in the refurbished ICT sector and partnerships with global OEMs like HP and Lenovo make it a compelling investment. We assign a Subscribe rating for informed investors.”

While the IPO is considered fully priced, experts highlight GNG’s scalability, sustainability certifications, and debt reduction strategy as key positives. However, risks such as reliance on laptop refurbishing (75.59% of FY25 revenue) and pricing pressures on components should be considered.

Financial Performance and Valuation

Revenue and Profit Growth

GNG Electronics has demonstrated robust financial growth, making it a standout in the IPO market. Here’s a snapshot of its financial performance:

• FY25 (as of March 31, 2025): Revenue of ₹1,420.37 crore (24% YoY growth) and net profit of ₹69.03 crore (32% YoY growth).
• FY24: Revenue of ₹1,138.1 crore and net profit of ₹52.3 crore.
• FY23: Revenue of ₹659.5 crore and net profit of ₹32.4 crore.

The company’s revenue has grown at a 46% CAGR over the last two years, driven by its leadership in ICT refurbishment and global expansion. Its profit after tax (PAT) margin stands at ~4.9%, with a return on equity (RoE) of 30%, reflecting strong financial visibility.

Valuation Metrics

At the upper price band of ₹237, GNG Electronics is valued at a market capitalization of ₹2,702 crore. Key valuation metrics include:

• P/E Ratio: 39.14x (based on FY25 annualized earnings).
• P/BV Ratio: 10.17x.
• EV/EBITDA: 26.3x (higher than the peer average of 22.8x).

While the valuation appears high, it is considered reasonable given GNG’s market leadership, asset-light model, and growth prospects in a rapidly expanding sector.

Strengths and Risks

Strengths of GNG Electronics

• Market Leadership: India’s largest refurbisher of laptops and desktops, and among the top globally for ICT devices (1Lattice Report).
• Global Presence: Operates in 38 countries with 4,154 touchpoints and five refurbishing facilities in India, the USA, and the UAE.
• Sustainability Focus: Holds certifications like Extended Producer Responsibility (Central Pollution Control Board) and Responsible Recycling Version 3 (SERI).
• Strong Partnerships: Collaborates with global OEMs like HP, Lenovo, and Microsoft, and serves as an IT asset disposal partner for major firms.
• Debt Reduction Plan: ₹320 crore of IPO proceeds will be used to repay debt, reducing interest expenses and enhancing profitability.

Risks to Consider

• Revenue Concentration: Laptops account for 75.59% of FY25 revenue, making the company vulnerable to market fluctuations in this segment.
• Inventory Risks: Some stock remains unsold for longer periods, potentially impacting cash flow.
• Client Dependency: Reliance on a few large clients could pose risks if relationships change.
• Market Competition: Pricing pressures on key components and competition in the refurbished electronics market could affect margins.

Investors should weigh these risks against the company’s growth potential and consult financial advisors before applying.

How to Apply for the GNG Electronics IPO

Application Process

Retail investors can apply for a minimum of 1 lot (63 shares) at ₹14,931, while high-net-worth individuals (HNIs) must bid for at least 13 lots (819 shares) at ₹194,103. Here’s how to apply:

1. Through a Broker: Use platforms like Zerodha, Upstox, or 5Paisa to submit your application via UPI or ASBA (Application Supported by Blocked Amount).
2. Online Banking: Log in to your bank’s net banking portal, navigate to the IPO section, and apply using ASBA.
3. UPI Payment: Enter your UPI ID, select the lot size and price, and approve the mandate via your UPI app.

Checking Allotment Status

To check the GNG Electronics IPO allotment status, visit the Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html) or your broker’s portal after July 28, 2025. You’ll need your application number, PAN, or DP ID to verify your status.

Why Invest in the GNG Electronics IPO?

The GNG Electronics IPO Day 3 Highlights reveal a compelling investment case for several reasons:

• High Subscription Demand: The 146.90x subscription rate reflects strong investor confidence.
• Attractive GMP: A 42.19% premium suggests potential listing gains of up to ₹100 per share.
• Growth Potential: The refurbished electronics market is projected to grow significantly, and GNG’s leadership positions it to capture this demand.
• Debt Reduction: Repaying ₹320 crore in loans will strengthen the balance sheet and improve profitability.
• Sustainability Appeal: GNG’s ESG-aligned business model aligns with global trends toward affordability and environmental responsibility.

However, investors should conduct thorough research and consider their risk tolerance, as the IPO’s high valuation and sector-specific risks require careful evaluation.

FAQ Section

What Are the GNG Electronics IPO Day 3 Highlights?

The GNG Electronics IPO Day 3 Highlights include a subscription rate of 146.90 times, with over 208.43 crore shares bid against 1.41 crore offered. The retail portion was subscribed 45.31 times, NIIs 226.45 times, and QIBs 266.21 times. The grey market premium (GMP) was ₹100, indicating a potential listing price of ₹337 (42.19% above the upper price band of ₹237). The IPO, which closed on July 25, 2025, aims to raise ₹460.43 crore, with ₹400 crore from a fresh issue and ₹60.44 crore from an OFS.

Allotment is expected on July 28, with listing on BSE and NSE on July 30. Brokerages like Canara Bank Securities and SBI Securities recommend subscribing due to GNG’s market leadership and growth potential, though risks like revenue concentration should be considered.

How Can I Check the GNG Electronics IPO GMP?

To check the GNG Electronics IPO GMP, visit trusted platforms like investorgain.com, ipowatch.in, or chittorgarh.com, which provide daily updates on grey market premiums. As of July 25, 2025, the GMP was ₹100, suggesting a listing price of ₹337 (a 42.19% premium over ₹237). GMP reflects unofficial market sentiment and is speculative, so cross-check with multiple sources. Alternatively, follow financial news portals like Livemint or Moneycontrol for real-time GMP updates. Always combine GMP data with fundamental analysis, as it can fluctuate based on market conditions. Investors should avoid relying solely on GMP and consult financial advisors for informed decisions.

What Are the Key Dates for the GNG Electronics IPO?

The key dates for the GNG Electronics IPO are:

• Opening Date: July 23, 2025
• Closing Date: July 25, 2025
• Allotment Finalization: July 28, 2025
• Refund Initiation: July 29, 2025
• Demat Credit: July 29, 2025
• Listing Date: July 30, 2025 (BSE and NSE)

Investors can check allotment status on the registrar’s website (Bigshare Services) or through their brokers. Refunds and share credits will occur on July 29, ensuring a smooth process before the listing. Mark these dates to stay updated and avoid missing critical deadlines.

Should I Subscribe to the GNG Electronics IPO?

Deciding whether to subscribe to the GNG Electronics IPO depends on your investment goals and risk tolerance. Brokerages like Canara Bank Securities, SBI Securities, and Arihant Capital recommend subscribing due to GNG’s leadership in the refurbished ICT market, 24% YoY revenue growth (₹1,420 crore in FY25), and a debt repayment plan that will enhance profitability. The IPO’s P/E ratio of 39.14x is considered reasonable given the sector’s growth (18.9% CAGR globally, 31.3% in India). However, risks include reliance on laptops (75.59% of revenue) and inventory management challenges. The 146.90x subscription and ₹100 GMP signal strong listing potential, but consult a financial advisor to align with your portfolio strategy.

What Are the Risks of Investing in the GNG Electronics IPO?

Investing in the GNG Electronics IPO carries several risks:

• Revenue Concentration: Laptops contribute 75.59% of FY25 revenue, making the company vulnerable to market shifts in this segment.
• Inventory Risks: Unsold stock lingering for extended periods could strain cash flow.
• Client Dependency: Reliance on a few major clients poses risks if relationships change.
• High Valuation: A P/E ratio of 39.14x is higher than some peers, potentially limiting upside if growth expectations falter.
• Market Competition: Pricing pressures and competition in the refurbished electronics sector could impact margins.

Despite these risks, GNG’s strong financials, global presence, and debt reduction plan make it attractive for risk-tolerant investors with a medium to long-term horizon.

How Does GNG Electronics Compare to Its Peers?

GNG Electronics lacks direct listed peers in India, as it is the country’s largest refurbisher of laptops and desktops. Globally, it ranks among the top ICT refurbishers, competing with unlisted players. Its P/E ratio of 39.14x (FY25) and EV/EBITDA of 26.3x are higher than the peer average of 22.8x, reflecting a premium valuation. However, GNG’s 46% revenue CAGR, 30% RoE, and partnerships with HP, Lenovo, and Microsoft give it a competitive edge. The company’s asset-light model and sustainability certifications further differentiate it in the growing refurbished electronics market, projected to expand significantly through 2030.

Conclusion

The GNG Electronics IPO Day 3 Highlights reveal a blockbuster opportunity for investors, with a 146.90x subscription rate, a ₹100 GMP, and strong expert endorsements. GNG Electronics, a leader in the refurbished ICT sector, is well-positioned to capitalize on the global and Indian market’s growth, driven by affordability and sustainability trends. With a robust financial track record, a debt reduction plan, and a listing date set for July 30, 2025, this IPO offers potential for both short-term listing gains and long-term growth. However, investors should weigh risks like revenue concentration and high valuation before deciding.

Ready to dive into this IPO? Check the GMP, review the key dates, and consult a financial advisor to make an informed decision. Share your thoughts in the comments below, subscribe to our newsletter for more IPO updates, or follow us on social media to stay ahead in the stock market game!