New Delhi, July 22 -- GNG Electronics, India's largest laptop and desktop refurbisher under the Electronics Bazaar brand, is gearing up to hit the public markets with a Rs.460.4-crore initial public offering (IPO) opening on Wednesday. Priced between Rs.225 and Rs.237 a share, the offer includes a fresh issue of shares worth Rs.400 crore and an offer-for-sale (OFS) of 2.55 million shares by the promoters.

With refurbishing centres across India and 38 other markets including the US, the UAE, and countries in Europe and Africa, GNG has a dominant position in the growing market for affordable and sustainable tech.

At the heart of the IPO is a strategic push to pare debt. Of the IPO proceeds, Rs.320 crore has been earmarked for repayments. ...