GNG Electronics, which was offering a fresh issue of shares worth ₹400 crore in its IPO, has received bids for shares worth nearly ₹50,000 crore as its IPO was oversubscribed nearly 148 times. Qualified institutional buyers showcased the strongest demand, oversubscribing their allotted shares by nearly 228 times. The IPO, with price band of ₹225-237, closed on Friday.