Tonbo Imaging Sets IPO Price Band At ₹665-₹700 For ₹852 Cr Issue

What happened

The issue will open for subscription on October 15 and close on October 19, with anchor investor bidding scheduled for October 14. The offer has been reduced from the 1.81 Cr shares proposed in its draft papers.

Defence tech company Tonbo Imaging India has set a price band of ₹665-₹700 per equity share for its ₹852.1 Cr OFS-only IPO (the sale of a company’s shares to the public on a stock exchange). The IPO comprises an OFS of up to 1.22 Cr equity shares, with no fresh issue component.

At the upper end of the price band, the IPO values the company at ₹4,009.8 Cr (about $480 Mn). The selling shareholders include promoters and cofounders Arvind Kondangi Lakshmikumar, Ankit Kumar, and Cecilia D’Souza, alongside investors such as CEAQ Technologies and Artiman Partners.