GNG Electronics Limited IPO
GNG Electronics Limited is India’s largest refurbisher of laptops and desktops and ranks among the top global refurbishers of Information and Communication Technology (ICT) devices. As of March 31, 2025, the company has a robust international footprint across India, USA, Europe, Africa, and the UAE. The company follows a repair-over-replacement approach to promote sustainability and cost efficiency.
Market Position and Industry Dynamics
GNG is recognized as India’s largest Microsoft Authorized Refurbisher by refurbishing capability. It also acts as the IT asset disposal (ITAD) partner for India’s second-largest software company. The refurbished PC market is growing rapidly worldwide and in India, and GNG is well-positioned to capture this growth with superior infrastructure and operations. The Indian refurbished PC market is expected to grow at a CAGR of 30% and reach USD 4 billion by FY30.
Brand and Services
Operating under the brand “Electronics Bazaar,” GNG manages the full refurbishment lifecycle – from sourcing and refurbishment to sales, after-sales service, and warranty support. The company specializes in ICT devices such as laptops, desktops, tablets, servers, premium smartphones, and accessories, often delivering products at one-third the cost of new devices.
Online and Offline Presence
GNG has a strong digital presence through its e-commerce platform (www.electronicsbazaar.com) in India and the USA and maintains visibility on online marketplaces and B2B platforms. The company also executes offline brand-building initiatives like event participation and corporate tie-ups.
Strategic Partnerships
GNG is a certified refurbishment partner with top global brands like Lenovo and HP, and is also the largest authorized Microsoft refurbisher in India. The company provides ITAD and buyback solutions to leading OEMs and retail giants like Vijay Sales, HP India, and Lenovo India.
Extensive Sales and Procurement Network
GNG has a global sales presence in 38 countries and a distribution network with 4,154 touchpoints as of March 31, 2025. It also maintains a procurement base of 557 suppliers, including leading corporates, educational institutions, recyclers, and leasing companies. Prominent global procurement partners include Iron Mountain (USA), Apto Solutions Inc (USA), and Renew IT Pty Ltd (Australia).
Refurbishing Infrastructure
The company operates five state-of-the-art refurbishing facilities across India, USA, and UAE, spanning 58,127.82 sq. ft. These facilities support L1 to L3 level repairs including motherboard, LCD, cosmetic refurbishment, laser keyboard reprinting, and advanced quality checks.
Objects of the GNG Electronics Limited IPO:
GNG Electronics Limited IPO Details:
Open Date: | Jul 23 2025 |
Close Date: | Jul 25 2025 |
Total Shares: | 1,94,27,637 |
Face Value: | ₹ 2 Per Equity Share |
Issue Type: | Book Building |
Issue Size: | 460.43 Cr. |
Lot Size: | 63 Shares |
Issue Price: | ₹ 225-237 Per Equity Share |
Listing At: | NSE,BSE |
Promoters And Management:
Financials of GNG Electronics Limited IPO:
Particulars |
FY 2024-25 | FY 2023-24 | FY 2022-23 |
Revenue from Operations | 1,411.11 | 1,138.13 |
659.54 |
Revenue - With in India |
345.32 | 478.39 | 326.29 |
Revenue - Export | 1,065.78 | 659.74 |
333.25 |
Gross Margins |
17.89% | 12.31% | 15.34% |
EBITDA |
126.14 | 84.90 | 50.04 |
EBITDA Margins |
8.94% | 7.46% | 7.59% |
PAT | 69.03 | 52.30 |
32.42 |
PAT Margins |
4.89% | 4.60% | 4.92% |
ROCE | 17.31% | 16.72% |
17.91% |
Operating Cash Flows |
24.52 | 97.45 |
24.95 |
Comparison With Peers:
Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | D/E Ratio | MCap (in cr) | P/E |
GNG ELECTRONICS LIMITED | 1,411.10 | 8.94% | 4.89% | 1.92 | 2702.07 | 39.14 |
Newjaisa Technologies Limited | 65.66 | 1.05% | -1.72% | 0.18 | 125 | in loss |
Recommendation on GNG Electronics Limited IPO:
Lead Manager of GNG Electronics Limited IPO:
Registrar of GNG Electronics Limited IPO:
Discussion on GNG Electronics Limited IPO:
Leave a Reply
You must be logged in to post a comment.