GNG Electronics Ltd.’s IPO Subscription Update
GNG Electronics Ltd.’s initial public offering opened for the second day of subscription on Thursday. The company is aiming to raise up to Rs 460 crore.
Subscription Details
The IPO received 18.50 bids on Thursday as of 01:02 p.m.
The company, operating under the brand Electronics Bazaar, is offering shares in the price range of Rs 225-237 each. The IPO comprises a fresh issue of shares valued at Rs 400 crore and an offer for sale of up to 25.5 lakh shares totaling Rs 60 crore. At the upper end of the price band, GNG Electronics is valued at Rs 2,702 crore.
Upcoming Events
The IPO share allotment is scheduled to be finalized by July 28. The shares of GNG Electronics will be listed on the BSE and NSE on July 30.
Key Players
Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd., and JM Financial Ltd. are the book running lead managers for the IPO.
Anchor Investments
Prior to the IPO, GNG Electronics raised Rs 138 crore from anchor investors on Tuesday. Notable investors include Motilal Oswal, Mirae Asset, Edelweiss, and Goldman Sachs.
