From Zero to Full in 60: GNG Electronics IPO Zaps the Market on Day 1

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The IPO of GNG Electronics was subscribed 100% within the first hour of opening, which was evidence of extremely strong investor demand and a good indication of its subsequent mainboard listing.

Key Highlights

Rs 460 Crore Issue Booked In Full: The IPO, consisting of a fresh issue of Rs 400 crore and offer for sale of Rs 60.43 crore, was booked in full within one hour of market opening.
Heavy Investor Demand: The issue saw heavy participation from all the categories—retail, non-institutional, and qualified institutional buyers, indicating the complete faith of investors in the country's largest laptop and desktop refurbishing firm.
Staggering Grey Market Premium (GMP): GNG Electronics' stocks are quoting a GMP of close to 44%, with the anticipated listing price estimated at Rs 342 (compared to issue price of Rs 237), indicating probable strong listing gains for new entrants.
Anchor Investor Response: The company raised Rs 138 crore of its anchor round on July 22 from marquee investors like Goldman Sachs, Mirae Asset, Motilal Oswal, and Edelweiss.
Purpose of Proceeds: The IPO proceeds would be used primarily for repayment of outstanding borrowings (about Rs 320 crore), working capital needs, and general corporate purposes.
Future Dates: The IPO remains open until 25th July 2025, with allotment on 28th July and listing on 30th July.
Impressive Fundamentals: GNG Electronics reported a 24% revenue growth to Rs 1,420 crore and 32% net profit growth to Rs 69 crore in FY25, continuing its growth trajectory.

The overwhelming subscription response makes GNG Electronics one of 2025's blockbuster IPOs, with hopes running high for a brilliant listing debut this month.

Source: Moneycontrol, Republic World, Economic Times, Fortune India, News18, IndiaTV