365Telugu.com online news,National, July 19, 2025: GNG Electronics Limited is set to launch its Initial Public Offering (IPO) on Wednesday, July 23, 2025, with the issue closing on Friday, July 25, 2025. The Anchor Investor bidding will take place on Tuesday, July 22, 2025.
The IPO comprises:
- A fresh issue of equity shares aggregating up to ₹400 crore, and
- An Offer for Sale (OFS) of up to 25.5 lakh equity shares of face value ₹2 each.
Key Details:
- Price Band: ₹225 to ₹237 per equity share
- Face Value: ₹2 per share
- Bid Lot: Minimum 63 equity shares and in multiples thereafter
- RHP Link: Red Herring Prospectus
Objective of the Issue:
The net proceeds will be used for:
- Repayment/prepayment of certain borrowings by the company and its material subsidiary, Electronics Bazaar FZC
- General corporate purposes
Reservation Breakdown:
- Qualified Institutional Buyers (QIBs): Not more than 50% of the offer
- Of which up to 60% may be allocated to Anchor Investors
- One-third of Anchor portion is reserved for domestic Mutual Funds
- Non-Institutional Investors (NIIs): Not less than 15%
- Split into two sub-categories based on application size (₹2 lakhs to ₹10 lakhs and above ₹10 lakhs)
- Retail Individual Investors (RIIs): Not less than 35%
Application Process:
All investors, except Anchor Investors, must apply through the ASBA (Application Supported by Blocked Amount) process. UPI ID details are mandatory for UPI-based retail applications. Anchor Investors cannot use ASBA for their portion of the issue.
This offering is made in accordance with the SEBI ICDR Regulations through the Book Building Process under Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957.