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Business · Updated 16 Oct, 03:15 pm IST

Tonbo Imaging IPO sees strong demand as defence tech firm files offer-for-sale

Image: Inc42

Why it matters for readers: Gives a snapshot of which defence technologies are in demand and how the market is reacting to them.

  • Tonbo Imaging's IPO was 6.29x subscribed by 1:30 PM on October 16, according to BSE data.1
  • Grey market premium for the IPO rose to as high as 71%.1
  • The company set a price band of ₹665-700 per share, valuing it at about ₹4,010 crore at the upper end.1
  • The offer-for-sale comprises 1.22 crore equity shares and the IPO closes on October 19, with listing expected on BSE and NSE on October 23.1
  • Tonbo, founded in 2003 in Bengaluru, sells thermal imaging, weapon sights, missile seekers and high-power microwave systems and says it has deployed over 28,000 systems across 24 countries.1
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How this story developed

  1. 16 Oct, 01:39 pm · Inc42

    Tonbo Imaging IPO Gets A Strong Start, But Does Growth Justify Its Valuation?

  2. 16 Oct, 03:15 pm · Inc42

    Tonbo Imaging IPO Oversubscribed Nearly 7X On Day 2 So Far