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Business · Updated 12 Oct, 10:53 am IST

Tonbo Imaging sets IPO price band at ₹665-₹700 for ₹852 Cr OFS

Image: Inc42

Why it matters for readers: Explains that this IPO is a sell-down by shareholders, not a capital raise for business expansion.

  • The IPO is an offer-for-sale of up to 1.22 crore equity shares and will not raise fresh capital for Tonbo.1
  • At the upper price band of ₹700, the company is valued at about ₹4,009.8 crore.1
  • The selling shareholders include promoters and cofounders Arvind Kondangi Lakshmikumar, Ankit Kumar, and Cecilia D’Souza, along with investors such as CEAQ Technologies and Artiman Partners.1
  • The IPO was reduced from the 1.81 crore shares proposed earlier and follows SEBI observations after the company refiled its draft papers.1
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