GNG Electronics Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025. The report, issued by CARE Ratings Limited, confirms that the utilization of Initial Public Offering (IPO) proceeds, amounting to ₹400.00 crore, has been in line with the disclosures made in the Offer Document. During the quarter (Q3 FY26), the company utilized ₹9.54 crore towards issue expenses, comprising ₹0.67 crore against proforma invoices and ₹8.87 crore against invoices. The total utilization of IPO proceeds as of the end of the quarter stands at ₹392.65 crore, with ₹7.36 crore remaining unutilized. The company has reported no deviation from the stated objects of the IPO and has obtained necessary approvals, including from the RBI for transferring funds to its overseas subsidiary. The company's IPO was for a total issue size of ₹400.00 crore, with the issue period from July 23, 2025, to July 25, 2025. The objects of the issue included debt repayment for the company (₹220.00 crore) and its material subsidiary, Electronics Bazaar FZC (₹100.00 crore), general corporate purposes (₹46.42 crore), and issue expenses (₹33.58 crore). The debt repayment for both the company and its subsidiary was completed by August 02, 2025, and September 04, 2025, respectively, well within the original completion date of March 31, 2026. General corporate purposes were completed by September 30, 2025.
