India’s primary market gears up for another action-packed week with 10 IPOs set to launch and three listings scheduled. Among the highlights, refurbished electronics giant GNG Electronics is opening its IPO on July 23 to raise approximately ₹460 crore, primarily to reduce debt and support general business expansion.
India’s capital markets are set for heightened activity next week with 10 IPOs expected to launch and three companies, including Anthem Biosciences, scheduled to list. Among the key issuers is GNG Electronics, India’s leading refurbisher of laptops, desktops, and ICT devices, which is gearing up for its mainboard IPO launch on July 23.
The company has set a price band of ₹225–237 per equity share. The public issue includes a fresh issue worth ₹400 crore and an offer-for-sale (OFS) of 25.5 lakh shares, bringing the total issue size to approximately ₹460.44 crore at the upper price band. The IPO will close on July 25, with allotment scheduled by July 28. Shares are expected to be listed on both the BSE and NSE by July 30.
The proceeds from the IPO will primarily be used to reduce GNG Electronics’ debt burden by ₹320 crore, with the remainder allocated toward general corporate purposes. This aligns with the company’s strategic plan to strengthen its balance sheet and fund growth in domestic and international refurbishing operations.
GNG Electronics operates five refurbishing facilities across India, the USA, and the UAE. With operations spanning India, Europe, Africa, and the Middle East, the company commands a strong position in the global refurbished electronics market. Its competitive edge lies in scale, operational efficiency, and expanding global presence.
Despite facing minimal competition from publicly listed peers, GNG’s IPO aims to capitalize on investor interest in tech-enabled circular economy models. The company is looking to differentiate itself by enhancing technology, scaling refurbishing processes, and capturing growing demand for affordable electronics across developing and developed markets.
GNG Electronics has shown robust financial performance in recent years, with revenue in FY24 reaching ₹1,138.1 crore and profits at ₹52.3 crore. The company has projected continued growth in FY25, reflecting its operational momentum and the growing demand for sustainable electronics solutions.
This IPO is expected to attract institutional and retail interest, given the company’s strong fundamentals, wide geographic footprint, and focus on debt reduction—an essential step in unlocking higher margins and long-term investor value.
