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GNG Electronics IPO Listing: Its shares were listed at Rs 355 apiece on the NSE, which is a premium of 49.78% over its issue price of Rs 237.
GNG Electronics IPO Listing.
GNG Electronics IPO Listing: GNG Electronics, which refurbishes laptops and desktops, on Wednesday (July 30, 2025) made a strong market debut. Its shares were listed at Rs 355 apiece on the NSE, which is a premium of 49.78% over its issue price of Rs 237. The stock, however, slipped after the listing to trade at Rs 335.11 apiece on the NSE, as of 10:11 am.
On the BSE, shares of GNG Electronics listed at Rs 350 apiece, a 47.6% premium over the IPO issue price.
The stock on Wednesday closed at Rs 333.39 apiece on the NSE, which is 40.67% higher than the issue price.
The company’s market capitalisation stood at Rs 3,834.7 apiece.
The IPO was open for subscription between July 23 and July 25. On the final day of bidding on Friday, the issue received a 150.21 times subscription, garnering bids for 2,08,39,60,116 shares as against the 1,38,73,595 shares on offer. The retail and NII participation stood at 47.36x and 226.44x, respectively. The QIB category has received a 266.21x subscription.
GNG Electronics IPO Listing: Should You Buy, Hold Or Sell?
“GNG Electronics made a solid market debut, largely in line with our expectations, reflecting robust investor enthusiasm. The IPO witnessed strong demand across categories, particularly from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs), underscoring confidence in the company’s growth story,” said Prashanth Tapse, senior vice-president (research) and research analyst of Mehta Equities Ltd.
However, post-listing valuations appear stretched, limiting immediate upside potential from current levels. In light of this, we believe conservative investors should consider booking profits and capitalising on the initial momentum, he added.
“While Investors with a higher risk appetite or a long-term horizon may choose to HOLD, given the company’s scalable business model, strong positioning within the SME tech segment, and alignment with favourable sectoral trends. These fundamentals, in our view, support sustained long-term growth despite potential short-term volatility,” Tapse said.
Meanwhile, brokerages in their IPO notes were largely bullish on GNG Electronics Ltd (GEL), citing strong financial growth, market leadership in refurbishing, and promising industry tailwinds.
Bajaj Broking gave a ‘Subscribe for long term’ rating, highlighting that GEL is “India’s largest Microsoft authorised refurbisher, in terms of refurbishing capability, as of Fiscal 2025″. It also noted the company’s role as an IT asset disposal partner for India’s second-largest software firm by market cap.
On financials, Bajaj Broking observed that GEL’s revenue and net profit rose from Rs 662.79 crore / Rs 32.43 crore in FY23 to Rs 1,420.37 crore / Rs 69.03 crore in FY25. The average RoNW stands at 30.68%. It added, “If we attribute FY25 annualised earnings then the asking price is at a P/E of 39.17. Based on FY24 earnings, the P/E stands at 51.63.”
However, it flagged revenue concentration as a risk: “In FY25, 75.59% of revenue came solely from laptop sales. A decline in laptop demand could materially impact revenue and profitability.” Dependency on limited suppliers and price fluctuations in parts were also listed as concerns.
SBI Securities echoed the optimism, stating, “The company has registered strong Revenue/EBITDA/PAT CAGR of 46%/58%/46% (FY23–FY25) to Rs 1,411 crore / Rs 117 crore / Rs 69 crore, respectively.” It also cited positive industry trends with India’s refurbished PC market projected to grow at a CAGR of 31.3% till FY30.
The brokerage noted the absence of listed peers in India and said: “At the upper price band of Rs 237, GNG is valued at a P/E of 39.1x based on FY25 earnings.”
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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