GNG Electronics Share Price Skyrockets 50% on NSE Debut

GNG Electronics made a powerful entry into the stock market on July 30, listing at ₹355 per share on the National Stock Exchange

This opening marks a premium of nearly 50% over the IPO price of ₹237, reflecting robust investor enthusiasm.

Strong Market Debut Beats Grey Market Projections

The company’s listing price of ₹355 significantly exceeded grey market expectations, which had projected a 38% premium with pre-listing grey market trades hovering around ₹327 per share.

Company Overview: GNG Electronics

GNG Electronics specializes in refurbishing and selling a wide range of Information and Communication Technology devices, including:

• Laptops
• Desktops
• Other digital infrastructure components

The company caters to both institutional and individual clients, contributing to its growing demand and market presence.

GNG Electronics IPO Sees Bumper Response

GNG Electronics launched its ₹460 crore IPO with strong investor interest across all categories.

Key Highlights of the IPO:

• Total Size: ₹460 crore
• Fresh Issue: ₹400 crore
• Offer for Sale: ₹255 crore
• Price Band: ₹225–₹237
• Bidding Period: July 23 to July 25

IPO Subscription Details:

• Overall Subscription: 147x
• Qualified Institutional Buyers (QIBs): 266x
• Retail & HNI Segments: Also received enthusiastic participation

Financial Snapshot of the IPO

While detailed financial metrics like revenue and EBITDA were not disclosed in the reference article, the scale of the IPO and the overwhelming investor interest indicate a strong financial backing and business potential.

Summary

• GNG Electronics share price debuted at ₹355, showing a 50% jump over its IPO price of ₹237.
• The grey market had indicated a premium of 38%, but the actual listing surpassed it.
• The ₹460 crore IPO was subscribed 147 times, with QIBs bidding 266x their reserved quota.
• GNG Electronics operates in the refurbished ICT devices sector, offering essential tech infrastructure solutions.

The listing performance of GNG Electronics reflects the market's positive sentiment and strong demand for quality tech players in the refurbishing space.