GNG Electronics IPO Subscribed 147.93 Times: Key Insights and Analysis for Indian Investors
GNG Electronics Ltd.’s initial public offering (IPO) has been subscribed 147.93 times on its third day of subscription, indicating strong investor interest in the company’s shares. The company, which operates under the brand Electronics Bazaar, offered shares in the range of Rs 225-237 apiece.
The IPO consisted of a fresh issue of shares worth Rs 400 crore and an offer for sale of up to 25.5 lakh shares amounting to Rs 60 crore. The market value of GNG Electronics at the upper end of the price band is Rs 2,702 crore.
The IPO share allotment will be finalised by July 28, and shares of GNG Electronics will debut on the BSE and NSE on July 30.
About GNG Electronics
GNG Electronics is a Mumbai-based company that refurbishes laptops, desktops, and other ICT devices, and has a significant presence across India, the US, Europe, Africa, and the UAE.
The company follows a repair-over-replacement approach, which provides cost advantages and helps achieve sustainability by reducing carbon footprint.
IPO Subscription Status
The IPO subscription status as of 7 p.m. on Friday is as follows:
- Qualified Institutional Buyers: 266.21 times
- Non-Institutional Investors: 227.67 times
- Retail Investors: 46.84 times
The grey market premium for GNG Electronics IPO stood at Rs 100 per share at 6:31 p.m. on July 25. With the upper price band for the IPO set at Rs 237 apiece, the GMP indicates an estimated listing price of Rs 337 per share, according to InvestorGain.
Current GMP trends show an estimated listing gain of 42.19% over the upper limit of the issue price.
It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.
Key Takeaways for Indian Investors
The GNG Electronics IPO has been subscribed 147.93 times, indicating strong investor interest in the company’s shares. Here are some key takeaways for Indian investors:
- GNG Electronics is a company with a strong presence in the Indian and international markets.
- The company’s repair-over-replacement approach provides cost advantages and helps achieve sustainability.
- The IPO subscription status shows strong demand from institutional and retail investors.
- The grey market premium indicates an estimated listing price of Rs 337 per share, with a potential listing gain of 42.19% over the upper limit of the issue price.
GNG Electronics Ltd.’s IPO is a significant event in the Indian stock market, and investors should carefully consider the company’s financials, business model, and market trends before making any investment decisions.
