Tonbo Imaging India's initial public offering (IPO) was fully subscribed on its first day, driven mainly by strong participation from non-institutional investors (NIIs). The IPO attracted bids for 1.37 crore shares, exceeding the 85,26,033 shares on offer, according to exchange data available until 1:37 PM on the first day of subscription.
- The IPO price band was set between ₹665 and ₹700 per share.
- Non-institutional investors subscribed 3.02 times, while retail individual investors subscribed 1.93 times.
- Qualified Institutional Buyers (QIBs) showed no interest at the time of reporting.
- The issue was a complete offer for sale (OFS) of 1.21 crore shares, totaling ₹852 crore.
- Minimum application size was 21 shares (one lot).
- Tonbo Imaging raised ₹255.36 crore from anchor investors at ₹700 per share before the IPO.
- The company's confirmed order book stood at ₹314.24 crore, including domestic and overseas orders.
What is the structure of Tonbo Imaging's IPO?
The IPO was a full offer for sale (OFS) amounting to ₹852 crore. It consisted of 1.21 crore shares offered at a price band between ₹665 and ₹700 per share. Investors needed to apply for a minimum of one lot, which included 21 shares. Prior to the public offering, the company allotted 36.48 lakh equity shares to anchor investors at the upper price band of ₹700 per share, raising ₹255.36 crore.
Who led the subscription of the IPO?
Non-institutional investors (NIIs) led the subscription with a 3.02 times oversubscription, indicating strong interest from this category. Retail individual investors (RIIs) also showed good participation with a 1.93 times subscription. However, Qualified Institutional Buyers (QIBs) had not shown any interest at the time of the report.
What is Tonbo Imaging's business focus?
Tonbo Imaging India is a Bengaluru-based defense electronics original equipment manufacturer (OEM). The company designs, develops, and manufactures sensing, processing, communication, and guidance systems used for surveillance, reconnaissance, targeting, and control. Its product range includes thermal-imaging cores, weapon sights, binoculars, targeting and fire-control systems, missile seekers, and guidance systems.
Founded in 2003 as Sarnoff Innovative Technologies Private Limited, the company transitioned from providing research and development services to becoming a defense-focused product company after a promoter buyout in 2012.
How strong is Tonbo Imaging's order book?
As of the latest data, Tonbo Imaging's confirmed order book stood at ₹314.24 crore. This includes ₹231.87 crore from 30 domestic orders and ₹82.37 crore from six overseas orders. Additionally, the company received new orders worth ₹118.15 crore between July 1 and September 30, 2026, indicating growing demand for its products.
Where will Tonbo Imaging's shares be listed?
The company's shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), providing investors with multiple platforms to trade the stock.
What will the company do with the funds raised?
The proceeds from the IPO will be used to support the company's growth plans, including expanding its product portfolio and enhancing manufacturing capabilities. The funds will also help strengthen its research and development efforts to maintain its competitive edge in the defense electronics sector.
