India-based GNG Electronics Limited is set to launch its ₹460 crore IPO, offering a price band of ₹225-237 per equity share. The company, known as the country’s largest refurbisher of ICT devices, aims to raise fresh capital to repay debts and strengthen operations. Investors can subscribe in defined lot sizes with allocations designated for QIBs, NIIs, and retail investors.
India’s GNG Electronics Limited has officially launched its ₹460 crore initial public offering (IPO), fixing the price band between ₹225 and ₹237 per equity share with a face value of ₹2. The issue is structured with a fresh issue component of ₹400 crore and an offer-for-sale (OFS) of 25.5 lakh shares by existing promoters.
The company operates under the brand name Electronics Bazaar and is recognized as the largest refurbisher of laptops and desktops in India, according to industry sources. GNG Electronics has also expanded globally, with operations in the USA, Europe, Africa, and the UAE.
The public issue is open to qualified institutional buyers (QIBs), non-institutional investors (NIIs), and retail investors. The allocation for retail participants stands at a minimum of 35% of the total offering. Investors can bid in lots of 63 equity shares and multiples thereafter.
Use of Proceeds and Strategic Objectives
Proceeds from the IPO will be used to partially or fully prepay certain borrowings of the company and its major subsidiary, Electronics Bazaar FZC. Remaining funds will support general corporate requirements, reinforcing the company’s financial structure and expansion efforts.
Company Overview and Global Reach
Headquartered in Navi Mumbai, GNG Electronics Limited operates five refurbishment centers across India, the USA, and the UAE. These include major facilities in Navi Mumbai and Dallas, and three centers in Sharjah.
By employing a repair-over-replacement strategy, the firm is aligned with global ESG objectives, reducing carbon emissions while enhancing the lifecycle of ICT hardware. Its end-to-end operations—from device sourcing to refurbishment, resale, after-sales service, and warranty—place GNG Electronics in a leadership position in the circular economy space.
As of March 31, 2025, GNG Electronics has rapidly scaled its presence, with customer demand spanning multiple geographies due to increasing IT asset recycling needs.
Market Position
The company’s growth is supported by robust demand for sustainable IT infrastructure. Its positioning as a full-service refurbisher gives it a competitive edge as enterprises and governments globally adopt cost-efficient and environmentally sound practices.
With a rising need for refurbished electronics and a growing ESG compliance framework, GNG Electronics appears strategically placed to capitalize on future trends in tech-enabled circular solutions.
