Trilegal, Crawford Bayley act on Electronics Bazaar ~₹460 crore IPO

GNG Electronics Limited has made an initial public offering of equity shares aggregating to ₹460.435 crore.

Trilegal advised GNG Electronics on this IPO.

The transaction team was led by Richa Choudhary (Partner), with support from Avanti Kale (Counsel), Maitreya Rajurkar (Counsel), Aayush Khandelwal (Senior Associate), and Associates Kartikeya Anshu, Shivam Punjani, and Samruddhi Varma.

Crawford Bayley & Co advised the book running lead managers Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited and JM Financial Limited on this IPO.

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. It is among the select few companies operating under such a distinctive and differentiated business model.

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.

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