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Block deal: Goldman Sachs picks stake in this smallcap stock that surged 50% in 6 months — Mutual funds and foreign investors acquired GNG Electronics shares in a major block deal, reflecting confidence in the refurbished electronics company’s expansion potential.

Shares of GNG Electronics witnessed a block deal worth about Rs 175 crore on Thursday, with multiple domestic mutual funds and foreign investors picking up shares in the recently listed refurbished electronics company. According to exchange data, Promoter Vidhi S Khandelwal sold 44.87 lakh shares of GNG Electronics at Rs 390 per share, taking the total transaction value to Rs 175 crore.

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Among the prominent buyers was Motilal Oswal Equity Opportunities Fund Series II, which acquired 6.41 lakh shares. Other institutional investors participating in the transaction included Mirae Asset Mutual Fund, ITI Mutual Fund, Edelweiss Mutual Fund, Trust Mutual Fund, and Goldman Sachs Asia Equity Portfolio.

Mobius Investment Trust Plc and MCP Emerging Markets Fund LP also picked up stakes in the company.

Recently, Motilal Oswal initiated coverage on GNG Electronics with a positive outlook, highlighting the company’s leadership position in the global refurbished electronics market.

The brokerage said GNG Electronics has built a scaled refurbishment platform spanning about 46 countries, with nearly 95% of revenue generated through institutional and B2B channels. The company operates an integrated sourcing, refurbishment and distribution model, which helped it deliver a volume CAGR of around 43% between FY23 and FY26.
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Motilal Oswal believes the refurbished personal computer market is entering a structural growth phase, supported by affordability, improving product reliability, AI-driven hardware replacement cycles and regulatory initiatives such as right-to-repair and extended producer responsibility (EPR) norms.

The brokerage noted that GNG’s in-house refurbishment capabilities allow advanced repairs, higher recovery rates and better realizations. Despite nearly tripling volumes over FY23-26, warranty-related costs have remained low, indicating strong process controls and execution.

The broker expects the company to deliver a 26% revenue CAGR, 31% EBITDA CAGR and 36% profit CAGR between FY26 and FY28, driven by higher volumes, margin expansion, improving recovery economics and lower financing costs.

GNG Electronics operates under the “Electronics Bazaar” brand and is among the largest organized players in the refurbished ICT devices market, serving enterprises, retailers and distributors across global markets.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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