New Delhi, July 23 -- The initial public offering (IPO) of GNG Electronics has seen robust demand from both retail and non-institutional investors on its first day of bidding. The IPO, which opened today and is set to close on Friday, July 25, was fully subscribed just hours after the bidding began.

The IPO received bids for 12.75 crore shares against the total offer of 1.38 crore shares, resulting in an overall subscription of 9.20 times by the end of Day 1, according to exchange data.

Retail investors showed strong interest, with their portion subscribed to 9.31 times, while non-institutional buyers showed even greater enthusiasm, with their portion booked 18.86 times. The QIB portion was booked at 1.68 times.

GNG Electronics aims to...