GNG Electronics Ltd.'s initial public offering to raise up to Rs 460 crore has been oversubscribed on its first day of bidding on Wednesday, July 23. The company, which operates under the brand 'Electronics Bazaar', has offered shares in the range of Rs 225-237 apiece.The IPO consists of a fresh issue of shares worth Rs 400 crore and an offer for sale of up to 25.5 lakh shares amounting to Rs 60 crore. The market value of GNG Electronics at the upper end of the price band is Rs 2,702 crore.The IPO share allotment will be finalised by July 28. Shares of GNG Electronics will debut on the BSE and NSE on July 30.Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd. and JM Financial Ltd. are the book running lead managers for the IPO.GNG Electronics raised Rs 138 crore from anchor investors on Tuesday ahead of its initial public offering. The investors include Motilal Oswal, Mirae Asset, Edelweiss, and Goldman Sachs.Shanti Gold IPO: Price Band Set For Rs 360-Crore Fresh IssueIPO DetailsIssue opening: July 23- July 25Issue Price: Rs 225-237Fresh Issue: Rs 400 croreOFS : Rs 60.4 crore Total Issue Size: Rs 460.44 croreMarket Value at upper end of price band: Rs 2702.10 croreLot Size: 63 sharesAbout GNG ElectronicsMumbai-based GNG Electronics refurbishes laptops, desktops, and other ICT devices and has a significant presence across India, the US, Europe, Africa, and the UAE.The company follows a repair-over-replacement approach, which provides cost advantages and helps achieve sustainability by reducing carbon footprint.GNG Electronics IPO: Price Band, Financials, Key Dates, GMP And More — All You Need To KnowIPO Day One Susbcription StatusThe GNG Electronics IPO has been 2.21 times as of 11:33 a.m. on Wednesday.Qualified Institutional Buyers: 4%Non Institutional Investors (NIIs): 3.86 timesRetail Investors: 2.73 timesGNG Electronics IPO GMPThe grey market premium for GNG Electronics IPO stood at Rs 105 per share at 8:32 a.m. on July 23. With the upper price band for the IPO set at Rs 237 apiece, the GMP indicates an estimated listing price of Rs 342 per share, according to InvestorGain.Current GMP trends show an estimated listing gain of 44% over the upper limit of the issue price.It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.Indiqube Spaces IPO: WestBridge Capital-Backed Firm Raises Rs 314 Crore From Anchor Investors Ahead Of Issue. Read more on IPOs by NDTV Profit.