New Delhi, August 13th, 2025 —

GNG Electronics Limited (“GNG”) successfully launched its initial public offering of equity shares, raising ₹460.435 crore. Saraf and Partners acted as legal advisors to the book running lead managers — Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and JM Financial Limited — on this public issue.

Operating under the brand name “Electronics Bazaar,” GNG is India’s largest refurbisher of laptops and desktops and ranks among the leading refurbishers of information and communication technology (ICT) devices globally. The company has an extensive presence across India, the United States, Europe, Africa, and the UAE, covering the entire refurbishment value chain — from sourcing and refurbishment to sales, after-sales services, and warranty support.

The Saraf and Partners team was led by Partner Mathew Thomas. Crawford Bayley & Co acted as legal counsel to the selling shareholders in this IPO.

Released: Aug 13th, 2025