GNG Electronics IPO subscribed nearly 27x on day 2: GMP rises to 42%
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The initial public offering (IPO) of GNG Electronics continued to see strong investor demand on the second day of bidding, with the issue subscribed nearly 27x on Thursday. Non-institutional investors (NIIs) led the demand, subscribing 68 times their quota, while the retail portion was subscribed 23 times. The qualified institutional buyer (QIB) segment saw 2.21 times subscription. GNG Electronics IPO GMP In the grey market, GNG Electronics shares were quoting a premium of Rs 100–105, translating to an estimated 42% upside over the upper end of the price band. The grey market premium (GMP) has edged up from Rs 98–103 a day earlier. Also Read: Is the IPO market the new gold? 2025 listings outshine Nifty with 4X returns GNG Electronics IPO details Live Events The IPO includes a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 60.44 crore by existing shareholders. The price band is set at Rs 225–237 per share, valuing the compan...