Tonbo Imaging India IPO opens Oct 15: Check price band, lot size and key dates

The ₹852.18 crore initial public offering of defence electronics manufacturer Tonbo Imaging India will hit the primary market on October 15. The issue will conclude on October 19. The price band has been set at ₹665 to ₹700 per share.

The issue is only an offer for sale (OFS) of 1.22 crore shares, with no fresh issuance of shares.

Under the OFS, promoters Arvind Kondangi Lakshmikumar, Cecilia D’Souza, Ankit Kumar, Vinimaya Advisory LLP and investors CEAQ Technologies Pvt Ltd, CEAQ Technologies Pte Ltd, Timothy Guy Mitchell, Artiman Partners LLC, Ramesh Radhakrishnan and Amit Dilip Shah will offload their stake.

Since the offer is entirely an OFS, the firm will not get any proceeds from the share sale. The money will go to selling shareholders.

"Our company expects that the proposed listing of its equity shares will enhance our visibility and brand image and provide liquidity to its existing shareholders. Listing will also provide a public market for the equity shares in India," the company said in its red herring prospectus.

Tonbo Imaging India IPO: Lot size

Retail investors can apply for a minimum of 21 shares and in multiples thereafter. Half of the net offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Tonbo Imaging India IPO: Allotment and listing date

Tonbo Imaging India designs and manufactures sensing, processing, communication and guidance systems utilised in surveillance, reconnaissance, targeting and control applications. The company's product portfolio includes weapon sights, handheld thermal imaging binoculars, thermal imaging cores, missile seekers, fire control systems, targeting systems and missile guidance systems.

It supplies products to global defence forces, homeland security organisations, defence original equipment manufacturers (OEMs) and law enforcement agencies.

IIFL Capital Services and JM Financial are the issue's book-running lead managers, while KFin Technologies is the registrar.

The company's shares will be listed on the NSE and the BSE.