Link: https://www.electronicsbazaar.com/media/investor/DRHP.pdf
As of March 31, 2024, GNG Electronics Ltd., India's largest laptop and desktop refurbisher and one of the largest refurbishers of ICT devices globally and in India with a significant presence in India, America, Europe, Africa and UAE, has filed a bankruptcy petition with the Securities and Exchange Board of India (“SEBI”) in its draft red herring prospectus (“DRHP”) is entered.
In IPO Rs. 825 crore each worth Rs. 2 fresh issue of equity shares of face value and Rs. 2 comprises an offer for sale of equity shares of up to 97,00,000 of face value. The offer for sale includes up to 35,000 equity shares by Sharad Khandelwal, up to 35,000 equity shares by Vidhi Sharad Khandelwal and up to 96,30,000 equity shares by Amiable Electronics Pvt.
Brand of GNG Electronics Limited “Electronics Bazaar” operates under and has a presence in the entire refurbishment value chain from sourcing to refurbishment to sales and after sale services and providing warranty. The entire process of refurbishment of the company's ICT devices such as laptops, desktops, tablets, servers, premium smartphones, mobile workstations and accessories ensures that
Such devices are similar in performance and aesthetics to new and can provide laptops at a third of the cost of new devices and other devices such as desktops, tablets, servers, premium smart phones, mobile workstations and accessories at 35-50 percent of new devices. The company follows a repair-over-replacement approach that provides cost benefits and helps achieve true sustainability by reducing carbon footprints.
The company is one of the few companies that introduced the concept of warranty on refurbished ICT devices to provide comfort and confidence to our customers and still offers industry leading warranty terms. They are India's largest Microsoft Authorized Refurbisher in terms of refurbishing capacity till FY2024.
They are also the IT asset disposal partner for India's second largest software company by market capitalization during calendar year 2024, which buys their used IT assets. The company is a certified refurbishment partner of Lenovo and HP, two leading global brands with 24 percent and 21 percent market share as of calendar year 2023, respectively.
The company offers various ranges of store keeping units as of September 30, 2024 and its portfolio includes 4,996 SKUs. They also have a sales network with refurbished ICT devices sold in 35 countries by September 30, 2024. It also has a multi-channel global procurement network of 447 suppliers supported by an extensive procurement network across India and the world.
The procurement network includes corporates, consulting companies, intermediaries, recyclers, refurbishment partners, education institutes, leasing companies, NBFCs, large format retail stores and OEM brand stores as on September 30, 2024. Among some of our procurement partners
Some of the prominent names include US-based Iron Mountain and Apto Solutions Inc., Australia-based Green Box Group Pty Ltd and Renew IT Pty Ltd, HP, Lenovo, Microsoft, Tata Capital Ltd and Stellar Information Technology Pvt Ltd (Bitrazor). They have 3,265 customers as of September 30, 2024.
The company's operations are spread across 35 countries in North America, South America, Asia, Asia Pacific, Europe, Africa and the Middle East as of September 30, 2024, supported by five refurbishing facilities located in India, the US and the UAE, including one facility in Navi Mumbai, Maharashtra, India, one in the US in Dallas, Texas and three facilities in Sharjah, UAE
Its total area is 58,127.82 square feet. Our facilities are strategically located to serve regional markets and maintain a global reach across India, Middle East, Europe, Africa and the USA. It also helps in reducing freight cost, optimizing delivery time and increasing operational efficiency.
Motalil Oswal Investment Advisors Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and JM Financial Limited are the book running lead managers of the issue.