Mumbai-based GNG Electronics Limited is soon to be a public limited company, as it has refiled preliminary papers with the SEBI on March 25.
In this proposed IPO, GNG Electronics is planning to raise ₹450 Crore through a fresh issue and an offer-for-sale of up to 51 lakh shares by promoters.
GNG Electronics IPO reduced fresh issues and OFS size in the latest filing. Conversely, earlier in December 2024, it submitted DRHP, wherein a fresh issue of ₹825 crore and OFS were 97 lakh shares by promoters.
According to DRHP, Sharad Khandelwal and Vidhi Sharad Khandelwal will sale of 35,000 shares each. Moreover, Amiable Electronics will sell 96.30 lakh shares.
Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial will serve as the lead managers for the public offering.
GNG Electronics IPO Funds Deployment
A ₹320 Cr. from the fresh issue would be utilized for repaying debt and the rest of the money will be used for general purposes.
However, Its total borrowings were ₹499 crore as of September 2024.
GNG Electronics is a renowned company specializing in the sale of high-quality refurbished laptops and desktops. With a strong presence not only in India but also across the US, Europe, Africa, and the UAE, GNG Electronics is rapidly growing. The company focuses on restoring old or damaged laptops and desktops, transforming them into like-new devices, which are then sold as refurbished products.
GNG Electronics works under the Electronics Bazar brand. In which, they operate from refurbishment, sales, and after-sales services to providing warranties and having a comprehensive range of services across the refurbishment business chain.
As of fiscal year 2024, in terms of refurbishing capability, GNG Electronics is India’s largest Microsoft-authorized refurbisher. GNG Electronics is a certified refurbishment partner of some of the global brands like Lenovo and HP.
GNG Electronics IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
GNG Electronics Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹521.92 | ₹497.67 | ₹21.77 |
| 2023 | ₹662.79 | ₹627.37 | ₹32.43 |
| 2024 | ₹1143.80 | ₹1086.47 | ₹52.31 |
| September 2024 | ₹612.97 | ₹573.64 | ₹35.21 |
GNG Electronics IPO Valuation – FY2024
GNG Electronics IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹5.37 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 31.96% |
| Net Asset Value (NAV): | ₹16.80 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Newjaisa Technologies Limited | 2.29 | 21.37 | 11.44 | 17.16 | 61.80 Cr. |
Objects of the Issue
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company and our Material Subsidiary namely, Electronics Bazaar FZC;
- Funding the working capital requirements of our Company; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- Motilal Oswal Investment Advisors Limited
- IIFL Capital Services Limited
- JM Financial Limited
