Tonbo Imaging India’s IPO to Open October 15
Tonbo Imaging India’s IPO opens October 15 with a price band of INR 665-700 per share, entirely an offer-for-sale.
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Tonbo Imaging India Limited’s initial public offering will open for subscription on Thursday, October 15, 2026, and close on Monday, October 19, with the price band fixed at INR 665 to INR 700 per equity share of face value INR 2. The Anchor Investor Bidding Date is Wednesday, October 14. Bids can be made for a minimum of 21 equity shares and in multiples of 21 thereafter.
The offer comprises entirely an offer-for-sale of up to 12,174,046 equity shares of INR 2 each. The shares are proposed to be listed on BSE and NSE. JM Financial and IIFL Capital Services are the book-running lead managers to the offer.
Tonbo Imaging 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 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, it had deployed over 28,000 systems across 24 countries.
The company is led by promoters Arvind Kondangi Lakshmikumar, Managing Director and CEO, Ankit Kumar and Cecilia D’Souza. Tonbo designs and develops its products in India, keeping its electro-optics and infrared portfolio free from U.S. International Traffic in Arms Regulations (ITAR) restrictions, and has owned 100% of the intellectual property used in its products since Fiscal 2024. It follows an asset-light model, with design, prototyping and testing at its Bengaluru R&D centre and large-scale manufacturing outsourced to certified electronics manufacturing partners.
Tonbo Imaging India Limited’s initial public offering will open for subscription on Thursday, October 15, 2026, and close on Monday, October 19, with the price band fixed at INR 665 to INR 700 per equity share of face value INR 2. The Anchor Investor Bidding Date is Wednesday, October 14. Bids can be made for a minimum of 21 equity shares and in multiples of 21 thereafter.
The offer comprises entirely an offer-for-sale of up to 12,174,046 equity shares of INR 2 each. The shares are proposed to be listed on BSE and NSE. JM Financial and IIFL Capital Services are the book-running lead managers to the offer.
Tonbo Imaging 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 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, it had deployed over 28,000 systems across 24 countries.
