Key facts
- GNG Electronics saw a Rs 175 crore block deal on Thursday.
- Promoter Vidhi Khandelwal sold 44.87 lakh shares at Rs 390 each.
- Domestic mutual funds and foreign investors were the buyers.
- Goldman Sachs Asia Equity Portfolio, Mirae Asset Mutual Fund, and Motilal Oswal Equity Opportunities Fund Series II were among the institutional buyers.
- Motilal Oswal initiated coverage with a positive outlook on GNG Electronics.
GNG Electronics experienced a block deal worth approximately Rs 175 crore on Thursday, with promoter Vidhi Khandelwal selling 44.87 lakh shares at Rs 390 per share. The transaction saw participation from multiple domestic mutual funds and foreign investors, including Goldman Sachs Asia Equity Portfolio, Mirae Asset Mutual Fund, and Motilal Oswal Equity Opportunities Fund Series II.
Motilal Oswal recently initiated coverage on GNG Electronics with a positive outlook, citing its leadership in the global refurbished electronics market. The brokerage highlighted the company's scaled refurbishment platform across 46 countries, with nearly 95% of revenue from institutional and B2B channels. Motilal Oswal projects a volume CAGR of around 43% between FY23 and FY26, driven by the structural growth of the refurbished personal computer market.
The brokerage anticipates GNG Electronics will achieve a 26% revenue CAGR, 31% EBITDA CAGR, and 36% profit CAGR between FY26 and FY28. This growth is expected to be fueled by increasing volumes, margin expansion, improved recovery economics, and reduced financing costs. GNG Electronics operates under the brand "Electronics Bazaar" and is a significant player in the refurbished ICT devices market.