Tonbo Imaging India IPO Day 2: Issue booked nearly 8x; check all category-wise details

The initial public offering (IPO) of Tonbo Imaging India continues to see strong demand on its second day of bidding, as the issue has been booked 7.77 times on Friday, October 16.

Until 5 PM, the initial share sale of the firm had received bids for 6.63 crore shares as compared to 85,26,033 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 14.35 times, while the retail individual investor (RII) segment saw 7.12 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion was booked 3.95 times.

The ₹852 crore issue is a complete offer for sale (OFS) with price band set between ₹665 and ₹700 per share. The book-building issue comprises an OFS of 1.21 crore shares.

The minimum lot size for an application is 21 shares, and the investor would have to apply for a minimum of 1 lot.

Ahead of the IPO, the defense electronics-making firm had raised ₹255.36 crore from anchor investors. The company allotted 36.48 lakh equity shares to anchor investors at ₹700 apiece, the upper end of the price band of ₹665-700 per share, according to a circular.

Shares of the company will be listed on both the National Stock Exchange and the Bombay Stock Exchange.

Tonbo Imaging India IPO objective

The money raised from the IPO will be used towards the following objectives:

Tonbo Imaging India IPO: Listing date and time

About Tonbo Imaging India

Tonbo Imaging India is a Bengaluru-based defence electronics OEM that designs, develops and manufactures sensing, processing, communication and guidance systems for surveillance, reconnaissance, targeting and control. 

Incorporated in 2003 as Sarnoff Innovative Technologies Private Limited, it evolved from providing R&D and intellectual-property development services into a defence-focused product company following a promoter buyout in 2012. Its products include thermal-imaging cores, weapon sights, binoculars, targeting and fire-control systems, missile seekers and guidance systems.

The company’s confirmed order book stood at ₹314.24 crore, comprising ₹231.87 crore from 30 domestic orders and ₹82.37 crore from six overseas orders. It received additional orders worth ₹118.15 crore between July 1 and September 30, 2026.