Tonbo Imaging India IPO Details Details

Tonbo Imaging India IPO is a book-built issue worth ₹852.18 crore, comprising entirely an Offer for Sale (OFS) of 1.22 crore shares. The IPO opens on October 15, 2026, and closes on October 19, 2026. Allotment is expected on October 21, with a tentative NSE and BSE listing on October 23, 2026. The price band is ₹665–₹700 per share, with a lot size of 21 shares and a minimum retail investment of ₹14,700. Lead Manager: JM Financial Ltd. Registrar: KFin Technologies Ltd.

IPO Details

IPO Date 15 Oct 26
Listing Date 23 Oct 26
Face Value ₹2 per share
Price Band ₹665 to ₹700
Lot Size 21
Sale Type OFS only
Issue Type Bookbuilding IPO
Listing At NSE, BSE
Total Issue Size ₹852 Cr
Fresh Issue
Offer for Sale
Share Holding Pre Issue 5,72,82,100 shares
Share Holding Post Issue 5,72,82,100 shares

IPO DRHP Status

Description Details

IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50% of the Offer
Retail Shares Offered Not less than 35% of the Offer
NII Shares Offered Not less than 15% of the Offer

About Tonbo Imaging India IPO Details.


Tonbo Imaging India Limited, incorporated in December 2003, is a leading defence electronics OEM specializing in electro-optical, infrared (EO/IR), thermal imaging, surveillance, targeting and missile guidance systems. Its product portfolio includes tactical systems, platform systems and directed energy solutions, including WaveStrike, a high-power microwave system designed to counter drone threats. The company serves defence and security organizations across 24 countries, with over 28,000 deployed systems. It is India's largest manufacturer of thermal imaging systems for government and defence agencies (FY24–FY26) and a leading exporter by volume. Its products use proprietary, ITAR-free technology. As of June 2026, the company had 339 permanent employees and operates under India's IDDM defence procurement framework. Competitive Strengths: Leadership in thermal imaging and defence electronics. Strong in-house R&D and proprietary technologies. Diversified surveillance, targeting and guidance solutions. Global presence with ITAR-free export capabilities. Innovation-driven, asset-light business model. Experienced defence technology management team.

Company Financials (Restated)

Period Ended 30 Jun 2026 31 Mar 2026 31 Mar 2025
Assets 782.87 782.50 726.36
Total Income 37.32 369.94 474.39
Profit After Tax -17.74 50.88 72.76
EBITDA -13.04 104.62 139.06
Net Worth 538.54 553.16 490.14
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects Est Amt (₹ Cr.)
1 The Tonbo Imaging India Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders. 0.00

Key Performance Indicator (KPI)

KPI Jun 30, 2026 Mar 31, 2026
ROE -3.25%% 9.75%%
ROCE -4.31%% 14.54%%
Debt/Equity - -
RoNW -3.25%% 9.75%%
PAT Margin -47.52%% 13.75%%
EBITDA Margin -36.21%% 28.85%%

Key Performance Indicator (KPI)

Pre IPO Post IPO
EPS Rs 8.88 -ve
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP. The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.

IPO Registrar

  • Kfin Technologies Ltd.
  • 040-79615565
  • tonbo.ipo@kfintech.com
  • Visit Website

IPO Lead Manager(s)

Contact Details

Tonbo Imaging India Ltd. Address
No.3 Chikkayellappa Tower-II,1st C Main Sarjapur Main Road, Jakkasandra Extension, Chikkayellappa Industrial Layout Bengaluru, Karnataka, 560034

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