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GNG Electronics: GNG Electronics shares get listed at 49.79% premium!

GNG Electronics made a strong debut, listing at ₹355 on NSE - 49.79% above its ₹237 issue price. On BSE, it opened at ₹350, gaining 47.68% over the IPO price.

GNG Electronics made a strong stock market debut on July 30, listing at ₹355 on NSE, ₹118 or 49.79% above the ₹237 issue price. On BSE, it opened at ₹350 with a 47.68% premium.

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GNG Electronics’ ₹460 crore IPO received overwhelming demand, subscribed 150.21 times overall. The retail segment was booked 47.36 times, NIIs 226.44 times, and QIBs led with a strong 266.21 times subscription during the three-day bidding period.

GNG Electronics, established in 2006, offers end-to-end refurbishing services for ICT devices under the “Electronics Bazaar” brand, serving global markets with a repair-first approach that ensures cost savings and promotes environmental sustainability.

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The objective of GNG Electronics IPO was to raise ₹400 crore via fresh issue for business expansion, working capital, and general corporate purposes, while ₹60 crore through offer for sale provided partial exit to existing shareholders.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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