GNG Electronics IPO: Subscription Status, Allotment Details. All You Need to Know
The allotment of GNG Electronics IPO is set to take place today, July 28. The Rs 460.43 crore IPO received a thumping response from investors, which remained subscribed by 146.9 times on the final day of bidding, July 25.
GNG Electronics IPO: Subscription Status, Allotment Details. All You Need to Know
The allotment of GNG Electronics IPO is set to take place today, July 28. The Rs 460.43 crore IPO received a thumping response from investors, which remained subscribed by 146.9 times on the final day of bidding, July 25. Investors subscribed for 208.43 crore shares against 1.41 crore shares on offer.
Subscription status
On the final day, the whole issue was subscribed by 50.21 times. Retail investors booked the issue by 47.36 times, while Qualified Institutional Buyers (QIB) subscribed by 266.21 times. The Non-Institutional Investors (NII) category was subscribed 226.44 times.
The funds raised via the fresh issue will be utilised towards repaying existing debt, meeting working capital needs and general corporate purposes.
About the company
Founded in 2006, GNG Electronics is engaged in the business of refurbishing ICT devices such as laptops and desktops.
