GNG Electronics’ promoter -- Vidhi S Khandelwal has sold 3.94% stake in the company through an open market transaction worth Rs 175 crore. She has sold 44,87,203 equity shares, representing 3.94% of total issued and paid-up equity share capital of the company. The shares have been disposed at an average price of Rs 390 apiece. The stake sale was aimed at achieving the Minimum Public Shareholding requirements mandated under Securities and Exchange Board of India (SEBI) regulations.
Post this transaction, the shareholding of the Promoter and Promoter Group members in the company has reduced from 78.71% of the paid-up equity share capital of the company to 74.77% of the paid-up equity share capital of the company.
GNG Electronics, operating under the brand 'Electronics Bazaar', is into refurbishing laptops and desktops, including the full refurbishment value chain from sourcing to refurbishment to sales, to after-sale services and providing warranty.
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