DK Business Network
GNG Electronics Limited, operating under the brand “Electronics Bazaar,” has successfully launched its initial public offering (IPO), raising ₹460.435 crore.
Recognised as India’s largest refurbisher of laptops and desktops, the company also ranks among the top global refurbishers of ICT (Information and Communication Technology) devices. Its operations spans India, the USA, Europe, Africa, and the UAE.
Trilegal Advises GNG Electronics
Trilegal acted as legal counsel to GNG Electronics for this IPO. The team was led by Partner Richa Choudhary, supported by Counsel Avanti Kale and Maitreya Rajurkar, Senior Associate Aayush Khandelwal, and Associates Kartikeya Anshu, Shivam Punjani, and Samruddhi Varma.
Saraf and Partners Represent Lead Managers
Saraf and Partners advised the book-running lead managers, Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and JM Financial Limited. Partner Mathew Thomas led the advisory team, with key support from Senior Associates Shambhavi Kumar, Anjanesh Vatsa, and Aman Bahl, as well as Associates Kirti Gohil, Tanvi Ginodia, Khushi Dua, and Aishwarya Agarwal.
Crawford Bayley & Co. represented the Selling Shareholders in the transaction.
The IPO garnered massive investor interest, with the Qualified Institutional Buyer (QIB) portion oversubscribed by 266.21 times and total subscription reaching 147.93 times. Electronics Bazaar debuted on the stock exchanges with a striking 50% listing premium over its offer price, reflecting robust investor faith in its novel and distinctive business strategy.
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