The refurbished electronics industry is gaining strong momentum in India as cost-efficiency, sustainability, and digital adoption converge. Riding this growth wave, GNG Electronics Ltd. is launching its Initial Public Offering (IPO) from July 23 to July 25, 2025, offering investors an opportunity to tap into a fast-scaling, tech-driven business with global operations.
In this article, we explore everything about the GNG Electronics IPO, from its business fundamentals and financials to risks and long-term potential, so you can make an informed decision before applying.
GNG Electronics Ltd. is coming out with a Fresh Capital-cum-Offer for Sale, aiming to raise up to ₹460.43 crore.
Here are the key IPO details:
| Parameter | Details |
| IPO Open Date | July 23, 2025 |
| IPO Close Date | July 25, 2025 |
| Listing Date | July 30, 2025 |
| Price Band | ₹225 to ₹237 per share |
| Face Value | ₹2 per share |
| Lot Size | 63 shares |
| Total Issue Size | 1,94,27,637 shares (₹460.43 crore approx.) |
| Fresh Issue | 1,68,77,637 shares (₹400 crore approx.) |
| Offer for Sale | 25,50,000 shares (₹60.44 crore approx.) |
Investors interested in IPOs with strong B2B presence and international sales channels may find this issue particularly relevant.
Founded in 2006, GNG Electronics Ltd. specializes in refurbishment of laptops, desktops, and ICT devices, catering to customers in India, USA, Europe, Africa, and UAE. The company operates under its flagship brand Electronics Bazaar, handling everything from sourcing and refurbishment to post-sale services and warranty management.
GNG offers a wide range of services, including:
It also partners with leading retail and OEM brands like Vijay Sales, HP, and Lenovo to provide customized ICT device solutions and structured buyback offerings.
As of March 31, 2025, GNG had a footprint in 38 countries and a growing network of 4,154 customer touchpoints, compared to 3,252 in FY24 and 1,833 in FY23.
Beyond laptops and desktops, GNG also offers key components and electronics. Their diversified product lineup includes:
| Product Category | Description |
| LED TVs | Standard LED TVs sold under OEM and GNG brand |
| Smart TVs | Internet-enabled televisions with modern features |
| TV Motherboards | Circuit boards used in television processing |
| Power Supply Boards | Boards that regulate power within TV sets |
| LED Panels | Display panels for LED and smart TVs |
| Remote Controls | Handheld remotes for operating televisions |
| Plastic Injection Molding Parts | Molded plastic components for electronic assemblies |
This wide product scope makes GNG relevant for investors seeking exposure to the broader consumer electronics and TV components manufacturing segments.
GNG’s strong positioning in the refurbished electronics market in India and abroad stems from multiple strategic advantages:
These factors position GNG well in a space where affordable tech solutions are in high demand, both from individuals and institutions.
Here’s a look at the key financial metrics and pre-IPO valuation ratios of the company:
| Metric | Value |
| Return on Equity | 30.40% |
| Return on Capital | 17.31% |
| Debt to Equity Ratio | 1.95 |
| Return on Net Worth | 30.40% |
| PAT Margin | 4.89% |
| EBITDA Margin | 8.94% |
| Price to Book Value | 10.17 |
| EPS (Pre-IPO) | ₹7.11 |
| P/E Ratio (Pre-IPO) | 33.35 |
These figures indicate strong operational performance and profitability. The high return on equity and EBITDA margins suggest that the company is efficiently deploying capital and maintaining healthy cash flows.
Despite its strong position, GNG Electronics operates in a sector with several risks that investors must evaluate:
Investors should weigh these challenges against the growth potential before deciding to invest.
GNG Electronics offers a compelling growth story in a segment that aligns with global sustainability goals and rising digital demand. With expanding international reach, strong client relationships, and positive margins, the company stands out among upcoming IPOs in India in 2025.
The IPO is rated 4 out of 5 stars and is recommended for both listing gains and long-term holding. Given the price band of ₹225 to ₹237 per share and the solid fundamentals, the offering appears reasonably valued in comparison to its earnings and book value.
For investors looking to diversify into technology refurbishing businesses, GNG Electronics provides a niche opportunity with long-term upside.
The GNG Electronics Ltd. IPO presents a well-rounded opportunity with a blend of robust financials, global partnerships, and a scalable business model. However, potential investors should also be mindful of customer concentration and industry-specific risks.
If you’re exploring new IPOs in the consumer electronics or ICT space, GNG might be worth your attention.
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The stock market is a place where people buy and sell shares of companies. It helps companies raise money for growth, and investors get a chance to earn returns through price increases and dividends. The stock market plays an important role in the economy by supporting business expansion and wealth creation.
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