The shares were sold at an average price of ₹390 apiece, according to deal data. Following the transaction, the shareholding of the promoter and promoter group in the company declined from 78.71% to 74.77%.
In a regulatory filing, the company said the stake sale was undertaken to comply with the minimum public shareholding (MPS) requirements mandated under securities market regulations. With the completion of the transaction, the company has achieved the prescribed public shareholding threshold.
Several domestic and foreign institutional investors participated in the block deal. Mirae Asset Mutual Fund, ITI Mutual Fund, Goldman Sachs Funds, Edelweiss Mutual Fund and Trust Mutual Fund each bought shares worth around ₹25 crore.
Other investors in the transaction included Motilal Oswal Equity Fund and MCP Emerging Markets Fund. Mobius Investment Trust acquired nearly 5 lakh shares for about ₹19.3 crore.
The company said the sale was carried out in accordance with applicable SEBI regulations governing the achievement of minimum public shareholding norms.
Earlier, on March 18, the company had entered into a supplemental working capital facilities agreement with DBS Bank India Ltd, expanding its credit facility to ₹800 crore.
The agreement, executed on 18 March 2026, enhances the company’s existing facility from ₹300 million to ₹800 million, aimed at supporting its growing working capital requirements.
The facility is structured as a working capital/multiline arrangement and will be utilised to meet the company’s operational funding needs. As per the disclosure, the agreement forms part of a supplemental arrangement to the principal agreement dated 29 January 2024.
While in a seperate development, on March 23, the company has signed a supplemental and amendatory agreement with ICICI Bank Limited to enhance its credit facility, increasing the overall limit from ₹40 crore to ₹72 crore to support the company’s working capital requirements.
Shares of GNG Electronics ended 6.62% higher at ₹418.60 on the NSE on Thursday, gaining ₹26 during the session.
