Price Band of Tonbo Imaging India’s initial public offering fixed at Rs665 to Rs700
FinTech BizNews Service
Mumbai, 12 October, 2026: Tonbo Imaging India Limited proposes to open an initial public offering of its equity shares of Rs2 each on Thursday, October 15, 2026. The Anchor Investor Bidding Date shall be Wednesday, October 14, 2026, being one Working Day prior to the Bid/Offer Opening Date. The Bid/Offer Closing Date shall be Monday, October 19, 2026.
Arvind Lakshmikumar, Managing Director and Chief Executive Officer, Tonbo Imaging India Limited, at the press conference to announce the company’s proposed Initial Public Offering
The Price Band of the Offer has been fixed from Rs665 to Rs700per Equity Share. Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter.
The offer comprises entirely of an Offer for Sale of Equity Shares aggregating up to 12,174,046 equity shares of Rs2 each.
Tonbo Imaging India Limited is a Bengaluru-based global defence electronics original equipment manufacturer (OEM) that designs, develops and manufactures sensing, processing, communication and guidance systems for surveillance, reconnaissance, targeting and control. Its product portfolio includes thermal imaging cores, weapon sights, handheld thermal imaging binoculars, targeting systems, missile seekers and fire control systems, offered through its Tactical Systems and Platform Systems verticals. The Company is also developing directed energy systems to counter drone swarms. As of June 30, 2026, Tonbo Imaging had deployed over 28,000 systems across 24 countries.
The Company is led by its Promoters, Arvind Kondangi Lakshmikumar, Managing Director and Chief Executive Officer, Ankit Kumar and Cecilia D’Souza. Tonbo Imaging designs and develops its products in India, enabling its electro-optics and infrared portfolio to remain free from U.S. International Traffic in Arms Regulations (ITAR) restrictions. Since Fiscal 2024, the Company has owned 100% of the intellectual property used in its products. It follows an asset-light operating model, with design, prototyping and testing undertaken at its Bengaluru R&D centre, while large-scale manufacturing is outsourced to certified electronics manufacturing partners.
The Equity Shares of the Company are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
JM Financial Limited and IIFL Capital Services Limited are the Book Running Lead Managers to the Offer.
