Tonbo Imaging India's initial public offering (IPO) has attracted strong investor interest, being subscribed nearly 5 times on the second day of bidding. By 10:38 AM on October 16, 2026, bids were received for 4.04 crore shares against an offer of 85.26 lakh shares, showing robust demand across all investor categories.
- The IPO is subscribed 4.74 times overall.
- Non-institutional investors have subscribed 7.53 times.
- Retail individual investors have subscribed 3.99 times.
- Qualified Institutional Buyers have subscribed 3.93 times.
- The issue size is ₹852 crore, fully an offer for sale (OFS).
- Price band is set between ₹665 and ₹700 per share.
- Minimum application lot size is 21 shares.
- Funds raised will support the company’s growth and operations.
What is the current status of Tonbo Imaging India's IPO subscription?
As of mid-morning on October 16, 2026, the IPO has been subscribed 4.74 times. Investors have placed bids for 4.04 crore shares, while the total shares on offer are 85.26 lakh. This indicates strong demand from various investor segments.
How are different investor categories participating in the IPO?
The non-institutional investor (NII) category leads with a subscription rate of 7.53 times, showing high interest from high-net-worth individuals and other non-retail investors. Retail individual investors (RII) have subscribed 3.99 times, reflecting solid participation from everyday investors. Qualified Institutional Buyers (QIBs) have subscribed 3.93 times, indicating good institutional confidence.
What are the details of the IPO offer?
The IPO is a complete offer for sale (OFS) of 1.21 crore shares, with a price band fixed between ₹665 and ₹700 per share. The total issue size is ₹852 crore. Investors must apply for a minimum of 21 shares, which constitutes one lot.
Who are the anchor investors and what is their contribution?
Before the IPO opened to the public, Tonbo Imaging India raised ₹255.36 crore from anchor investors. The company allotted 36.48 lakh equity shares to these investors at the upper price band of ₹700 per share. Anchor investors are typically large institutional investors who support the IPO by committing to buy shares in advance.
What is Tonbo Imaging India's business focus?
Tonbo Imaging India is a Bengaluru-based defence electronics original equipment manufacturer (OEM). The company designs, develops, and manufactures sensing, processing, communication, and guidance systems used in surveillance, reconnaissance, targeting, and control applications. Its product range includes thermal-imaging cores, weapon sights, binoculars, targeting and fire-control systems, missile seekers, and guidance systems.
What is the company’s history and growth trajectory?
Incorporated in 2003 as Sarnoff Innovative Technologies Private Limited, Tonbo Imaging transitioned from providing research and development and intellectual property services to becoming a defence-focused product company after a promoter buyout in 2012. Since then, it has expanded its product offerings and market reach.
What orders and revenues does Tonbo Imaging currently have?
The company has a confirmed order book valued at ₹314.24 crore, with ₹231.87 crore coming from 30 domestic orders and ₹82.37 crore from six overseas orders. Additionally, it received new orders worth ₹118.15 crore between July 1 and September 30, 2026, indicating ongoing business growth.
Where will Tonbo Imaging's shares be listed?
The company’s shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), providing investors with accessible trading platforms.
How will the funds raised from the IPO be used?
The money raised through the IPO will be used to support the company’s business objectives, including product development, expanding manufacturing capabilities, and meeting working capital requirements. This will help Tonbo Imaging strengthen its position in the defence electronics sector.
