Electronics Bazaar’s proprietor GNG Electronics Ltd. filed draft papers for its preliminary public providing on Dec. 14. The IPO has a contemporary situation part of as much as Rs 825 crore and a suggestion on the market of as much as 97 lakh shares.
Promoters Sharad and Vidhi Khandelwal will probably be promoting as much as 35,000 shares every by the supply, whereas Amiable Electronics Pvt. will offload as much as 96.3 lakh shares by the supply. Collectively, the three sellers maintain 94.3% stake within the firm.
From the contemporary situation proceeds, Rs 320 crore will probably be used to repay debt and Rs 260 crore will probably be used to fund working capital, in line with the draft crimson herring prospectus.
GNG Electronics is India’s largest refurbisher of laptops and desktops and, in line with an organization launch, is an authorized refurbishment companion with Lenovo Group and HP Inc. The corporate’s portfolio consists of almost 5,000 inventory protecting models as of Sept. 30 and it sells refurbished units in 35 nations together with USA and UAE.
The retailer’s solely listed peer is the Nationwide Inventory Change-listed Newjaisa Applied sciences Ltd. The small and medium enterprise has a market capitalisation of Rs 297 crore, and a complete revenue of Rs 62 crore for fiscal 2024, in comparison with GNG’s Rs 1,144 crore.
Motilal Oswal Funding Advisors Ltd., IIFL Capital Providers Ltd. and JM Monetary Ltd. are the bankers dealing with the problem.
