GNG Electronics Ltd is set to finalise its IPO share allotment today, Monday, July 28, after an overwhelming investor response made it the most subscribed IPO of the year. The ₹460.43-crore issue witnessed an overall subscription of 146.9 times when it closed on Friday, July 25.
The IPO garnered bids for over 208.43 crore shares against 1.41 crore shares on offer. Retail investors subscribed 45.32 times their quota, while the Non-Institutional Investors (NIIs) segment was booked 226.45 times. The Qualified Institutional Buyers (QIBs) segment led the charge with a subscription of 266.21 times.
The IPO consisted of a fresh issue of ₹400 crore and an offer-for-sale worth ₹60.44 crore. Proceeds from the fresh issue will be used to repay debt, meet working capital needs, and for general corporate purposes.
How to check GNG Electronics IPO allotment status
Allotment status can be checked via the BSE, NSE, or through the registrar Bigshare Services Pvt Ltd:
On BSE website:
- Go to BSE IPO allotment page
- Select ‘Equity’ under issue type
- Choose ‘GNG Electronics Ltd.’ from the dropdown
- Enter your application number or PAN
- Click ‘Search’
On Bigshare Services:
- Visit Bigshare allotment page
- Select ‘GNG Electronics Ltd’ from the dropdown
- Provide your PAN/Application number/DP ID/Account number
- Click ‘Submit’
On NSE website:
Investors can also check using PAN and application number on the NSE IPO portal.
Shares are expected to be credited to Demat accounts by Tuesday, July 29, and refunds for unallotted shares will be processed the same day. Listing is scheduled for Wednesday, July 30, on both NSE and BSE.
About GNG Electronics
Operating under the ‘Electronics Bazaar’ brand, GNG Electronics is a leading refurbisher of laptops, desktops, and ICT devices, with operations across India and global markets.
Risks to consider
- High oversubscription: A 146.9x subscription makes share allotment extremely competitive.
- Grey Market Premium (GMP): While current GMP is 42.19%, it’s unofficial and volatile.
- Industry pressure: The refurbished electronics sector is highly competitive, possibly affecting margins.
- Information gaps: Limited visibility on certain financial and operational data could be a concern.
- Regulatory risks: Compliance with SEBI and other norms could impact operations.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making any investment decisions.
