Tonbo Imaging IPO Gets A Strong Start, But Does Growth Justify Its Valuation?
Tonbo Imaging, founded in 2003, launched its IPO with strong investor demand, achieving 6.29x subscription. The company specialises in thermal imaging, weapon sights, missile seekers and anti-drone systems deployed across 24 countries. Priced at ₹665-700 per share, the IPO values the company at ₹4,010 Cr at the upper end. The offering is an offer-for-sale-only structure with listing expected on October 23.
Key points
- Tonbo Imaging IPO achieved 6.29x subscription with 71% grey market premium
- Defence tech company specialises in thermal imaging, missile systems and counter-drone technology
- Priced at ₹665-700 per share, valuing company at ₹4,010 Cr upper end
- Products deployed across 24 countries; listed on BSE and NSE on October 23
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