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GNG Electronics used Rs 320 crore of IPO proceeds for debt repayment and corporate purposes
30-Jul-2026, 05:08
GNG Electronics Limited disclosed a monitoring agency report for the quarter ended June 30, 2026, prepared by CARE Ratings Limited, indicating no deviation from the objects of the initial public offering. The company utilized Rs 220.00 crore for debt repayment of the company and Rs 100.00 crore for debt repayment of its material subsidiary, Electronics Bazaar FZC, as part of the Rs 400.00 crore IPO proceeds. Additionally, Rs 46.42 crore was allocated to general corporate purposes, and Rs 33.58 crore was used for issue expenses, with a remaining balance of Rs 3.63 crore held in a bank account.
GNG Electronics Limited disclosed a monitoring agency report for the quarter ended June 30, 2026, prepared by CARE Ratings Limited, indicating no deviation from the objects of the initial public offering. The company utilized Rs 220.00 crore for debt repayment of the company and Rs 100.00 crore for debt repayment of its material subsidiary, Electronics Bazaar FZC, as part of the Rs 400.00 crore IPO proceeds. Additionally, Rs 46.42 crore was allocated to general corporate purposes, and Rs 33.58 crore was used for issue expenses, with a remaining balance of Rs 3.63 crore held in a bank account.