GNG Electronics saw a Rs 175 crore block deal where multiple domestic mutual funds and foreign investors, including Goldman Sachs, acquired shares. The refurbished electronics company has seen its stock rise 50% in six months.
Shares of GNG Electronics witnessed a block deal worth about Rs 175 crore on Thursday, with multiple domestic mutual funds and foreign investors picking up shares in the recently listed refurbished electronics company. According to exchange data, promoter Vidhi S Khandelwal sold 44.87 lakh shares at Rs 390 per share, totaling Rs 175 crore.
Among the prominent buyers was Motilal Oswal Equity Opportunities Fund Series II, which acquired 6.41 lakh shares. Other institutional investors included Mirae Asset Mutual Fund, ITI Mutual Fund, Edelweiss Mutual Fund, Trust Mutual Fund, and Goldman Sachs Asia Equity Portfolio. Mobius Investment Trust Plc and MCP Emerging Markets Fund LP also participated.
Key Points
- Block deal of Rs 175 crore in GNG Electronics at Rs 390 per share
- Promoter Vidhi S Khandelwal sold 44.87 lakh shares
- Buyers include Goldman Sachs, Motilal Oswal, Mirae Asset, ITI, Edelweiss, Trust Mutual Fund, Mobius, and MCP
- Stock has surged 50% in six months
Recently, Motilal Oswal initiated coverage on GNG Electronics with a positive outlook, highlighting the company's leadership in the global refurbished electronics market. The brokerage noted that GNG has built a scaled refurbishment platform spanning about 46 countries, with nearly 95% of revenue from institutional and B2B channels. The company's integrated sourcing, refurbishment, and distribution model helped deliver a volume CAGR of around 43% between FY23 and FY26.
Motilal Oswal believes the refurbished personal computer market is entering a structural growth phase, supported by affordability, improving product reliability, AI-driven hardware replacement cycles, and regulatory initiatives such as right-to-repair and extended producer responsibility norms. The brokerage expects GNG to deliver a 26% revenue CAGR, 31% EBITDA CAGR, and 36% profit CAGR between FY26 and FY28, driven by higher volumes, margin expansion, and lower financing costs.
GNG Electronics operates under the Electronics Bazaar brand and is among the largest organized players in the refurbished ICT devices market, serving enterprises, retailers, and distributors across global markets.