GNG Electronics has received Securities and Exchange Board of India’s (SEBI's) go ahead to raise funds through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares aggregating up to Rs 825 core and an offer for sale (OFS) of up to 97 lakh equity shares by promoters.

Proceeds of the fresh issue to the tune of Rs 320 crore will be utilised for the debt payment, Rs 260 crore for funding the working capital requirements of the company and the remaining amount for general corporate purposes. Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book-running lead managers to the issue.

GNG Electronics, operating under the brand 'Electronics Bazaar', is into refurbishing laptops and desktops, including the full refurbishment value chain from sourcing to refurbishment to sales, to after-sale services and providing warranty.