Tonbo Imaging India is launching its initial public offering (IPO) on October 15, 2026. This IPO is an offer for sale (OFS) of 1.22 crore shares, with no fresh shares being issued. The price band for the shares is set between ₹665 and ₹700. The IPO will close on October 19, 2026, and the company's shares will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
- The IPO is an offer for sale of 1.22 crore shares, with no new shares issued.
- The price band is ₹665 to ₹700 per share.
- The IPO opens on October 15 and closes on October 19, 2026.
- Half of the shares are reserved for qualified institutional buyers.
- 35% of shares are reserved for retail investors, and 15% for non-institutional investors.
- Retail investors can apply for a minimum of 21 shares.
- Shares will be listed on NSE and BSE.
What is Tonbo Imaging India and what products does it offer?
Tonbo Imaging India designs and manufactures advanced sensing, processing, communication, and guidance systems. These systems are used in surveillance, reconnaissance, targeting, and control applications. The company's product range includes weapon sights, handheld thermal imaging binoculars, thermal imaging cores, missile seekers, fire control systems, targeting systems, and missile guidance systems.
Tonbo Imaging supplies its products to global defence forces, homeland security organisations, defence original equipment manufacturers (OEMs), and law enforcement agencies.
What does the offer for sale (OFS) mean in this IPO?
The IPO is an offer for sale, meaning that existing shareholders are selling their shares rather than the company issuing new shares. A total of 1.22 crore shares are being sold by promoters and investors including Arvind Kondangi Lakshmikumar, Cecilia D’Souza, Ankit Kumar, Vinimaya Advisory LLP, CEAQ Technologies Pvt Ltd, CEAQ Technologies Pte Ltd, Timothy Guy Mitchell, Artiman Partners LLC, Ramesh Radhakrishnan, and Amit Dilip Shah.
Since this is an OFS, Tonbo Imaging India will not receive any proceeds from the share sale. Instead, the money will go to the selling shareholders.
How is the IPO allocation divided among investors?
The IPO shares are divided into three categories:
- 50% of the net offer is reserved for qualified institutional buyers (QIBs).
- 35% is reserved for retail investors.
- 15% is reserved for non-institutional investors.
Retail investors can apply for a minimum of 21 shares and in multiples of 21 thereafter.
Who are the managers and registrars of the IPO?
IIFL Capital Services and JM Financial are the book-running lead managers for the IPO. KFin Technologies is the registrar responsible for managing the IPO process.
Why is Tonbo Imaging India going public?
According to the company's red herring prospectus, the listing of equity shares is expected to enhance the company's visibility and brand image. It will also provide liquidity to existing shareholders and create a public market for the company's shares in India.
