GNG Electronics Sets IPO Stage with Rs 460-Crore Offering
GNG Electronics, a leader in refurbishing laptops and desktops, has announced its upcoming Rs 460-crore IPO with a price band of Rs 225-237 per share. The offering includes both a fresh issue and an offer for sale from promoters. The public offering runs from July 23-25, with proceeds allocated for debt clearance and corporate needs.
- Country:
- India
GNG Electronics, a notable player in the ICT refurbishment sector, is gearing up for a hefty financial move via an initial public offering (IPO). Priced between Rs 225 and Rs 237 per share, the Rs 460-crore IPO unfolds from July 23 to July 25. A day dedicated to anchor investors is set for July 22.
Comprising a fresh equity issuance totaling Rs 400 crore and an offer-for-sale (OFS) of 25.5 lakh shares by promoters valued at Rs 60.43 crore, the total issue heightens the company's market valuation past Rs 2,700 crore. The capital raised will facilitate debt repayments, working capital, and assorted corporate strategies.
GNG's comprehensive refurbishment ecosystem spans multiple continents, from sourcing to after-sales service, under the 'Electronics Bazaar' brand. Their strategies offer reconditioned devices at costs significantly lower than new equivalents. Industry stalwarts like Motilal Oswal and JM Financial are key advisors for this offering, expected to list on exchanges by July 30.
(With inputs from agencies.)
Google News