GNG Electronics Shares Soar on Market Debut

Shares of GNG Electronics Ltd experienced a remarkable debut on the stock market, launching with a 50% premium compared to its issue price of Rs 237. On the BSE, the stock started trading at Rs 350, showcasing a 47.67% surge from the issue price. It later climbed 53.58% to reach Rs 364.

The NSE saw the stock listing at Rs 355, translating to a 49.78% jump. The company's market valuation reached Rs 3,750.41 crore, underlining investor confidence. GNG Electronics' initial public offering attracted a stunning 146.90 times subscription on the final day, indicating robust institutional demand.

The Rs 460.43-crore IPO, priced at Rs 225-237 per share, consisted of a fresh issue of Rs 400 crore in equity shares and an Offer For Sale of 25.5 lakh shares by promoters, valued at Rs 60.43 crore. The funds will aid debt payment, working capital, and corporate purposes. GNG is a major player in refurbishing laptops and desktops, with a global footprint.

(With inputs from agencies.)