- Price band
- ₹665–700per share
- Issue size
- 1,21,74,046 sharesAmount set with price
- Face value
- ₹2per equity share
- Lot size
- 21 sharesMin. ₹14,700 at the upper price
- Anchor biddingWed, 2026
- OpensThu, 2026
- ClosesMon, 2026
- AllotmentWed, 2026
- ListingFri, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 0 shares
- Offer for sale
- 1,21,74,046 shares
- Total issue
- 1,21,74,046 shares
- Face value
- ₹2
- Listing at
- NSE, BSE
- RHP date
- 10 Oct 2026
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Reservation
Share of the total issue- Employees100.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Employees | 14,000 | 100.00% | — |
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26, pre-issue- EPS (basic)
- ₹9.19
- EPS (diluted)
- ₹8.88
- RoNW
- 9.75%
- NAV per share (March 31, 2026)
- ₹96.57
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Jun 20263 months | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|---|
| Revenue from operations | 36.01 | 362.65 | 469.08 | 428.19 |
| Total income | 37.32 | 369.94 | 474.39 | 431.90 |
| EBITDA | -13.04 | 104.62 | 139.06 | 112.32 |
| Profit after tax | -17.74 | 50.88 | 72.76 | 68.54 |
| Net worth | 538.54 | 553.16 | 490.14 | 230.13 |
| Reserves and surplus | 527.08 | 541.70 | 489.41 | 168.99 |
| Total assets | 782.87 | 782.50 | 726.36 | 574.68 |
| Total borrowing | 129.72 | 116.06 | 78.14 | 96.36 |
FY 2025-26 vs FY 2024-25: revenue −22.7%, profit after tax −30.1%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: Red Herring Prospectus dated 10 Oct 2026Updated
About the company
Designs and develops electro-optic, infrared and sensing systems for surveillance, reconnaissance, targeting and control, supplying defence customers in many countries. Manufacturing of its products is outsourced to contract manufacturers, while the company keeps design and intellectual property in-house.
- Incorporated
- 2003
- Industry
- Defence Electronics
- CIN
- U26700KA2003PLC033043
- Website
- tonboimaging.com
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Ankit Kumar | Promoter | — | — | 5,80,000 |
| Cecilia D'Souza | Promoter | — | — | 2,30,000 |
| Vinimaya Advisory LLP | Promoter group | — | — | 3,39,700 |
| Arvind Kondangi Lakshmikumar | Promoter group | — | — | 11,50,000 |
| Artiman Partners LLC | Selling shareholder | — | — | 1,97,350 |
| Amit Dilip Shah | Selling shareholder | — | — | 84,600 |
| Ramesh Radhakrishnan | Selling shareholder | — | — | 80,000 |
| Artiman Ventures Select 2014 L.P. | Selling shareholder | — | — | 69,400 |
| Artiman Ventures Select 2014 Principals Fund L.P. | Selling shareholder | — | — | 1,100 |
| Tiruvidaimarudhur Srivatsan Sivashankar and Meera Sivashankar | Selling shareholder | — | — | 80,000 |
| CEAQ Technologies Private Limited | Selling shareholder | — | — | 49,98,100 |
| CEAQ Technologies Pte. Ltd. | Selling shareholder | — | — | 41,55,096 |
| Timothy Guy Mitchell | Selling shareholder | — | — | 2,08,700 |
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Objects of the issue
| Purpose | Amount |
|---|---|
| Offer for sale only; the company receives no proceeds and the selling shareholders get the sale proceeds | Set with price |
| Listing benefits such as visibility, brand image and liquidity for existing shareholders | Set with price |
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Paras Defence and Space Technologies Limited | ₹10.93 | 117.74× | — | ₹90.02 |
| Data Patterns (India) Limited | ₹48.47 | 87.29× | 17.00% | ₹310.08 |
| Astra Microwave Products Limited | ₹20.32 | 83.92× | — | ₹138.46 |
| Zen Technologies Limited | ₹21.52 | 73.44× | — | ₹209.22 |
| Bharat Electronics Limited | ₹8.29 | 45.70× | — | ₹32.82 |
| Tonbo Imaging India LimitedIssuer | ₹9.19 | — | 9.75% | ₹96.57 |
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Claims to own its core intellectual property since Fiscal 2024 and does not depend on external technology partners.
- Asset-light model with in-house design and contract manufacturing of components.
- Products sold to customers in over 24 countries, with ITAR-free electro-optic offerings.
- Experienced promoter team with long domain experience in defence electronics.
Risks
- Revenue is cyclical and depends on government budgets and tender-based procurement, giving poor revenue visibility.
- Revenue fell in Fiscal 2026 and the quarter ended June 30, 2026 posted a loss, partly due to delayed international orders.
- Dependence on tender-based contracts that are short term and non-recurring, with no annuity revenue.
- Some large customers have contributed significantly to revenue, and the largest customer changed in Fiscal 2026.
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Contacts
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 10 Oct 2026Updated
After listing
| Listing day | Open | High | Low | Close |
|---|---|---|---|---|
| 23 Oct 2026 | ₹1,160 | — | — | — |
Listing-day report: Tonbo Imaging India IPO Listing: Grand Entry at 66% Premium
Source: Red Herring Prospectus dated 10 Oct 2026Updated
Frequently asked questions
When does the Tonbo Imaging India IPO open and close?
According to the Red Herring Prospectus, the issue opens on Thursday, 15 October 2026 and closes on Monday, 19 October 2026. These dates are tentative.
What is the Tonbo Imaging India IPO price band?
The price band is ₹665–700 per share, with a face value of ₹2.
What is the lot size of the Tonbo Imaging India IPO?
One lot is 21 shares, which is ₹14,700 at ₹700 per share.
Where will Tonbo Imaging India shares list?
On NSE and BSE. The tentative listing date is Friday, 23 October 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Tonbo Imaging India IPO allotment status?
The basis of allotment is expected to be finalised on Wednesday, 21 October 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
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