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Tonbo Imaging India Ltd
Open NSE & BSE Bookbuilding IPO

Tonbo Imaging India Ltd IPO

GMP Today
+₹495
+70%
Issue Price
₹700
Est. Listing: ₹1,195
IPO Overview
Quick facts
Issue Price
₹700
Lot Size
21 shares
Min. Investment
₹14,700
Issue Size
1,21,74,046 shares (agg. up to ₹852 Cr)
Face Value
₹2
Issue Type
Bookbuilding IPO
Listing Exchange
NSE & BSE
Script Code
—
Important Dates
IPO Open
15 Oct 2026
Today
IPO Close
19 Oct 2026
Allotment
21 Oct 2026
Refund Init.
22 Oct 2026
Demat Credit
22 Oct 2026
Listing Date
23 Oct 2026
Subscription Allocation
Category Shares Offered Lots Amount (₹)
QIB (Qualified Institutional) 2432010 — ₹—
NII / HNI (Non-Institutional) 1824007 14 ₹2,05,800
Retail (Individual) 4256016 1 ₹14,700
OFS (Offer for Sale) 1,21,74,046 shares of ₹2 (agg. up to ₹852 Cr) — ₹—
Minimum Application Size
Investor Type Lots Shares Amount (₹)
Retail (Min 1 Lot) 1 21 ₹14,700
HNI — sHNI 14 294 ₹2,05,800
HNI — bHNI 69 1449 ₹10,14,300
Subscription Status
Live
Metric QIB NII Retail Total
Subscription 0.00 2.01 1.34 1.11
Shares 2432010 1824007 4256016 8526033
Bids 2940 3672501 5706519 9424653
Financial Highlights

Amount in ₹ Crore

Metric 30 Jun 2026 31 Mar 2026 31 Mar 2025
Revenue 37369474
PAT -175072
EBITDA -13104139
Net Worth 538553490
Total Assets 782782726
Reserves 527541489
Borrowings 12911678
ROE
-3
ROCE
-4
RONW
-3
PAT Margin
-47
EBITDA Mgn
-36
Pre EPS
8
Pre P/E
78
Objects of Issue
  • {"object":null,"expected_amount":null}
About Tonbo Imaging India Ltd

Incorporated in December 2003, Tonbo Imaging India Limited is a global defence electronics original equipment manufacturer (OEM) engaged in the design, development, and manufacturing of advanced electro-optic, infrared (EO/IR), embedded vision, communication, guidance, and surveillance systems for defence and security applications. The company offers a diversified portfolio of battlefield solutions, including thermal imaging systems, weapon sights, missile seekers, fire control systems, missile guidance systems, targeting systems, and handheld thermal imaging devices.

Products:

  • Tactical systems: These systems are focused on the functions of imaging, surveillance, reconnaissance and targeting.
  • Platform systems: Two kinds of platform systems – (a) subsystems that can provide observation and fire control capabilities to a range of aerial, ground and weapon platforms and (b) end platforms that actually perform the task of threat neutralization.
  • Directed energy systems: To counter the threat of drone swarms, they have designed a portfolio of technology components that are being assembled into a high power microwave (“HPM”) platform with the brand name - WaveStrike.

Tonbo serves defence and security organizations across 24 countries with over 28,000 field-deployed systems. The company is India's largest manufacturer of thermal imaging systems for government and defence agencies (FY24–FY26) and the country's largest exporter of thermal imaging systems by volume. Its products are developed using fully owned intellectual property and are free from ITAR (International Traffic in Arms Regulations) restrictions, enabling exports to global markets without geopolitical limitations.

The company operates an innovation-driven business model backed by strong in-house R&D, proprietary technologies, and advanced manufacturing capabilities. As an approved supplier under India's IDDM (Indigenously Designed, Developed and Manufactured) defence procurement framework, Tonbo supports the Government's 'Make in India' and 'Atmanirbhar Bharat' initiatives.

As of June 30, 2026, the company employed 339 permanent employees across product design & development, manufacturing, project management, sales, finance, HR, and management functions.

Key Strengths

  • Leading defence electronics OEM with proprietary electro-optic and thermal imaging technologies.
  • Strong in-house R&D capabilities with complete ownership of core intellectual property.
  • Diversified portfolio of battlefield surveillance, targeting, guidance, and imaging solutions.
  • Global presence with 28,000+ deployed systems across 24 countries and ITAR-free export capability.
  • Asset-light, innovation-driven business model supported by healthy financial performance.
  • Experienced management team with deep expertise in defence technology and product development.
Apply for This IPO
₹700
Min. ₹14,700 · 21 shares/lot
Expected Listing ₹1,195
GMP +₹495 (+70%)
Close Date 19 Oct 2026
Apply Now — Open
Pre-Issue
5,72,82,100 shares
Post-Issue
5,72,82,100 shares
Company Contact
Registrar
Kfin Technologies Ltd
  • 040-79615565
  • tonbo.ipo@kfintech.com
Lead Managers
  • JM Financial Ltd
  • IIFL Capital Services Ltd
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