GNG Electronics IPO allotment out today—How to check status online
What's the story
The allotment status for GNG Electronics' ₹460.43 crore initial public offering (IPO) is expected to be announced today. The public issue has received a massive response from investors across all categories, subscribing 150 times in total. The strong demand has led to a gray market premium of around ₹95 per share, indicating a listing gain of nearly 40% over the issue price of ₹237.
Checking process
How to check allotment status?
Investors who applied for the IPO can check their allotment status online. There are two ways to do this: through the registrar's portal or the BSE website. To use Bigshare Services's portal, one has to visit it, select 'GNG Electronics' from a dropdown menu and enter their PAN/application number. Alternatively, on the BSE IPO allotment page, users select 'Equity,' choose 'GNG Electronics,' and enter their application number or PAN.
Share allocation
When will shares be credited?
Those who have been allotted shares can expect them to be credited in their Demat accounts by July 29. Refunds for those who haven't received allotment will also be processed on the same day. The listing of GNG Electronics' shares is scheduled for July 30 on both BSE and NSE, making it a highly anticipated event in the market.
Company profile
Key details about GNG Electronics
GNG Electronics operates in the refurbished electronics space under its brand 'Electronics Bazaar.' The company provides end-to-end solutions from sourcing and refurbishment to sales and after-sales services. It has a client base across 38 countries with over 4,000 touchpoints worldwide. After witnessing strong revenue and profitability growth over the last two years, GNG has emerged as a key player in the tech space driven by circular economy principles.