Tonbo Imaging India IPO: Amansa Investments, SBI Mutual Fund, HDFC Life, others invest ₹413 crore ahead of IPO

Ahead of its initial public offering, defence electronics maker Tonbo Imaging India has seen secondary transactions of more than ₹413 crore at ₹700 per share at a valuation of around ₹4,000 crore. The issue will open on October 15 and conclude on October 19.

The transactions involved the transfer of equity shares by existing investors CEAQ Singapore and CEAQ India to a group of domestic and international institutional investors, according to the Red Herring Prospectus (RHP).

The buyers included Amansa Investments, SBI Emergent India Fund, Malabar India Fund, SBI Optimal Equity Fund, Susquehanna Asia Technology, Valuequest Founders Conviction, HDFC Life Insurance Company and 360 ONE Multi-Stage Defence and Space Fund, it showed.

Amansa Investments was the largest buyer, acquiring 24.32 lakh shares at ₹700 apiece, the upper price band, for around ₹170.24 crore.

Susquehanna Asia Technology Pty Ltd, Valuequest Founders Conviction LVF and 360 ONE Multi-Stage Defence and Space Fund each brought 5.73 lakh shares for ₹40.10 crore.

Akash Manek Bhanshali purchased 5.66 lakh shares for ₹39.59 crore, while SBI Emergent India Fund acquired 5 lakh shares valued at ₹35 crore. SBI Optimal Equity Fund and HDFC Life Insurance Company purchased shares worth ₹20.09 crore and ₹16.03 crore, respectively.

The ₹852.18 crore initial share sale is an offer for sale (OFS) of 1.22 crore shares by promoters and investors, according to the RHP.

With a price band of ₹665 to ₹700 per share, a lot consists of 21 shares.

Tonbo Imaging India IPO: Allotment and listing date

Tonbo Imaging India designs, develops and manufactures sensing, processing, guidance and communication systems for surveillance, reconnaissance, targeting and control.

Its product portfolio includes weapon sights, hand-held thermal imaging binoculars, thermal imaging cores, targeting systems, fire control systems, missile guidance systems, and missile seekers, amongst others, to allow autonomy on the battlefield.

JM Financial and IIFL Capital Services are the issue's book-running lead managers.

Shares of the company will be listed on the NSE and the BSE.