GNG Electronics’ initial public offering (IPO) witnessed a phenomenal start on July 23, with the ₹460.43 crore issue being fully subscribed within the first hour of opening. The strong response reflects high investor confidence and enthusiasm around the company’s market debut.
As per data from the National Stock Exchange (NSE), the IPO was subscribed 1.43 times by 11:10 am, barely an hour after it opened at 10 am. The surge in demand was primarily driven by retail and non-institutional investors, showcasing wide interest across investor categories.
The IPO’s quick subscription highlights robust retail participation and growing investor appetite in the electronics segment.
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Anchor Investors Showed Confidence Before Launch
Before the IPO opened to the public, GNG Electronics raised ₹138 crore from anchor investors on Tuesday, further boosting sentiment. The early infusion of funds from institutional players set the tone for the blockbuster debut in the retail market.
Strong anchor backing often signals confidence in the company’s fundamentals and growth potential.
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Allotment and Listing Timeline
Investors who applied for the IPO can expect the allotment results by July 28, while the company’s shares are scheduled to list on both the NSE and BSE on July 30.
Additionally, the grey market premium (GMP) has also surged ahead of the listing, indicating positive expectations around listing gains. With a solid start and bullish grey market signals, GNG Electronics could be among the top-performing IPOs of the season.
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