As the clock ticks down, the GNG Electronics IPO is entering its final hours of bidding today, July 25, capping off a three-day window that began on July 23. The IPO has been creating quite a stir in the grey market. With the issue priced at Rs 237 per share – here is a quick snapshot of the current subscription status, GMP trend, allotment dates, and key listing details.
GNG Electronics IPO: GMP update
The GNG Electronics IPO is making waves in the market. As per the latest grey market trend, the company’s shares are trading at a premium of Rs 100 per share. This indicates a potential listing price of Rs 337, an estimated 42% upside over the IPO’s upper price band of Rs 237.
However, investors should note that the grey market premium (GMP) is not the actual listing price and is subject to change based on market sentiment.
GNG Electronics IPO: Subscription numbers so far
The GNG Electronics IPO, now in its final day of bidding, has received a strong response across investor categories. As of the latest update, the overall subscription stood at 45.75 times so far. Within this, the retail portion was booked 33.76 times, non-institutional investors (NII) showed a strong interest with 126.64 times subscription, while qualified institutional buyers (QIBs) subscribed 4.74 times.
GNG Electronics IPO: Allotment and listing date
The share allotment for the GNG Electronics IPO is expected to be finalised on Monday, July 28. Following this, the company’s shares are likely to be listed on both the BSE and NSE, with the tentative listing date set for Wednesday, July 30.
GNG Electronics IPO: IPO snapshot
The GNG Electronics IPO, pegged at Rs 460.43 crore, comprises both a fresh issue and an offer for sale. Of this, Rs 400 crore will be raised through a fresh issue of 1.69 crore equity shares, while Rs 60.44 crore comes from existing shareholders offloading 0.26 crore shares.
The price band for the offer is fixed at Rs 237 per share. Retail investors can apply for a minimum of one lot, which consists of 63 shares, translating to an investment of Rs 14,175. For non-institutional investors, the small HNI (sNII) category requires an application of 14 lots (882 shares) worth Rs 2,09,034, while the big HNI (bNII) category entails 67 lots (4,221 shares) amounting to Rs 10,00,377.
GNG Electronics IPO: Key players of the issue
Motilal Oswal Investment Advisors is overseeing the GNG Electronics IPO as its book-running lead manager, handling the overall coordination and execution of the issue. The registrar responsibilities, which include processing applications and finalising the share allotment, are being managed by Bigshare Services.
GNG Electronics IPO: About the company
The company was founded in 2006. Running operations under the brand name “Electronics Bazaar,”, the company is involved in refurbishing laptops, desktops, and other ICT (Information and Communication Technology) devices for both domestic and international markets. The company operates in India as well as in regions like the USA, Europe, Africa, and the UAE.