Trilegal advised on the successful listing of equity shares by GNG Electronics aggregating to INR 4,604.35 million.
GNG operates under the brand ‘Electronics Bazaar’ and is India’s largest refurbisher of laptops and desktops and among the largest refurbishers of information and communication technology devices overall, both globally and in India, with significant presence across India, USA, Europe, Africa and UAE.
The IPO received an overwhelming response, with the qualified institutional buyer portion oversubscribed by 266.21 times and the overall IPO subscribed by 147.93 times. It made a strong debut on the bourses, listing at a 50% premium to the offer price.
Our Capital Markets Team advising on the matter was led by Partner Richa Choudhary, and supported by Counsels Avanti Kale and Maitreya Rajurkar, Senior Associate Ayush Khandelwal, Associates Kartikeya A, Shivam Punjani and Samruddhi Varma.
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