Tonbo Imaging sets IPO price band for ₹852 crore offer
Defence technology firm Tonbo Imaging has set its IPO price band at ₹665-₹700 per share for a ₹852.1 crore offering via offer-for-sale, valuing the company at up to ₹4,009.8 crore. Existing shareholders—including founders and investors—will sell shares, with the company receiving no new capital. Subscription opens October 15 and closes October 19. Tonbo specializes in electro-optic and electronic defence systems and operates in 24 countries, but saw declining revenue and profit last fiscal year.
- IPO price band set at ₹665-₹700 per share
- Entirely an offer-for-sale by existing shareholders
- Company valued up to ₹4,009.8 crore at upper price
- No new shares issued; no proceeds go to Tonbo
- Subscription runs October 15-19
Sources covering this
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