GNG Electronics IPO Subscribed 147.93 Times On Day 3 — Check GMP
GNG Electronics Ltd.’s initial public offering was subscribed 147.93 times on its third day of subscription on Friday. The company was looking to raise up to Rs 460 crore.
The company, which operates under the brand Electronics Bazaar, offered shares in the range of Rs 225-237 apiece. The IPO consisted of a fresh issue of shares worth Rs 400 crore and an offer for sale of up to 25.5 lakh shares amounting to Rs 60 crore. The market value of GNG Electronics at the upper end of the price band is Rs 2,702 crore.
The IPO share allotment will be finalised by July 28. Shares of GNG Electronics will debut on the BSE and NSE on July 30.
Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd. and JM Financial Ltd. are the book running lead managers for the IPO.
GNG Electronics raised Rs 138 crore from anchor investors on Tuesday ahead of its initial public offering. The investors include Motilal Oswal, Mirae Asset, Edelweiss, and Goldman Sachs.
