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GNG Electronics IPO: A Statistical Triumph & Its Place in IPO History
With a stunning 150.21 times overall subscription, GNG Electronics' IPO ranks among the most oversubscribed in India’s recent market history. Let’s break down the numbers and how they stack up against previous major offerings.
The Numbers Tell a Story
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Shares Offered: 1.41 crore
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Applications Received: 208.43 crore
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QIB Demand: 266.21x
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NII Demand: 226.44x
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Retail Participation: 47.36x
Historical Perspective
In the past decade, only a handful of IPOs—like Avenue Supermarts (2017) and IRFC (2021)—have crossed the 100x subscription mark. GNG’s figures comfortably put it in this elite club, signaling robust investor enthusiasm even during volatile markets.
Chart: Top 5 Oversubscribed Indian IPOs (2015-2025)
| Company | Year | Oversubscription |
|---|---|---|
| Avenue Supermarts | 2017 | 104x |
| Ujjivan Small Fin. | 2016 | 165x |
| GNG Electronics | 2025 | 150x |
| Paras Defence | 2021 | 304x |
| Indigo Paints | 2021 | 117x |
Data sourced from exchanges and public filings.
GMP Analysis
The GMP for GNG Electronics reached as high as ₹105 before settling at ₹94 as of July 28, hinting at a likely listing price around ₹331—a 40% premium to the issue price. Historically, strong GMPs (over 30%) have led to robust listing-day pops, though this is never guaranteed.
What Drives Such Frenzy?
Factors behind this mad rush include:
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India’s push for local electronics manufacturing.
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Strong fundamentals and growth projections for GNG.
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Limited recent IPOs, intensifying demand for high-profile offerings.
Looking back, moments like these have signaled broader sentiment shifts and often portend active IPO seasons. Will this surge last? Recent market corrections suggest caution, but for now, the data speaks of a resounding market endorsement.