Electronics Bazaar IPO.
Trilegal, Saraf and Partners, Crawford Bayley & Co Adivse on Electronics Bazaar’s ₹460 Crore IPO: MUMBAI — GNG Electronics Limited, operating under the popular brand “Electronics Bazaar,” has made a stunning debut on the stock market, with its ₹460.435 crore initial public offering (IPO) receiving an overwhelming response from investors. As India’s largest refurbisher of laptops and desktops, the company’s strong listing performance signals a growing appetite among investors for businesses in the re-commerce and circular economy sectors.
The IPO was met with spectacular demand, particularly from institutional investors. The portion reserved for qualified institutional buyers (QIBs) was oversubscribed by a remarkable 266.21 times, while the overall issue was subscribed by 147.93 times. This high level of interest propelled the company’s stock to list at a 50% premium to its offer price on the bourses.
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GNG Electronics has established itself as a leader in refurbishing information and communication technology (ICT) devices, not only in India but also with a significant global footprint in the USA, Europe, Africa, and the UAE. Its distinctive business model, which focuses on sustainable re-commerce, has been a key factor in its success. In a market where environmental, social, and governance (ESG) factors are becoming increasingly important to investors, the company’s model resonates strongly.
The IPO was a complex legal and financial undertaking that brought together several key firms. Trilegal advised GNG Electronics, with a dedicated transaction team led by Partner Richa Choudhary. The book running lead managers—Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and JM Financial Limited—were guided by Saraf and Partners, with Partner Mathew Thomas at the helm. Additionally, Crawford Bayley & Co provided legal counsel to the selling shareholders.
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The successful IPO and strong market debut of Electronics Bazaar mark a significant milestone for the company and validate its position as a key player in the global re-commerce market. The capital raised will likely fuel further expansion and reinforce its leadership in a sector poised for continued growth.
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