Upcoming IPO, June 24 -- GNG Electronics Limited, and Glottis Limited has been issued final observation by the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

Glottis Ltd submitted its draft papers to SEBI in February 2025, while GNG Electronics Ltd submitted its draft papers in December 2024 and subsequently refiled them in March 2025.

GNG Electronics is the biggest refurbisher of laptops and desktops in India and stands out as one of the largest refurbishers of ICT devices both in India and worldwide, boasting a substantial presence across India, the USA, Europe, Africa, and the UAE in terms of value, as reported by 1Lattice as of March 31, 2024.

The IPO consists of a new issuanc...