BSE List Price : ₹1162.00

NSE List Price : ₹1160.00

Subscription

Category	Times
QIBs	293.56x
HNIs	170.95x
Retail	31.07x
Employee	54.35x
Total : 135.91x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	21	₹14,700
Retail Maximum	13	273	₹191,100
S - HNI Minimum	14	294	₹205,800
S - HNI Maximum	68	1,428	₹999,600
B - HNI Minimum	69	1,449	₹1,014,300

About the Company

Tonbo Imaging India Limited is a Bengaluru-based defence electronics company established in 2003. It designs, develops and manufactures advanced electro-optical and infrared imaging systems, sensing technologies, communication systems and guidance solutions for defence and security applications.

Business Model: The company develops and manufactures specialised defence technology products for military and security customers in India and overseas. Its products are used in surveillance, reconnaissance, targeting, fire control and missile guidance applications.

Products & Services

• Thermal imaging cameras and imaging cores

• Weapon sights and handheld thermal imaging binoculars

• Targeting and fire control systems

• Missile seekers and guidance systems

• Electro-optical and infrared surveillance systems

• Defence observation and platform systems

• Directed-energy and counter-drone technology components

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2024	₹431.90	₹336.94	₹68.54	₹574.68
2025	₹474.39	₹374.35	₹72.76	₹726.36
2026	₹369.94	₹299.98	₹50.88	₹782.50
June 2026	₹782.87	₹61.07	₹-17.74	₹782.87

Company Promoter

Ankit Kumar

Arvind Kondangi Lakshmikumar

Cecilia D’Souza

Know before investing

• • Strengths

  • Specialised Defence Technology: Focuses on advanced electro-optical and infrared systems used in mission-critical applications.

  • International Presence: Products have been deployed across 24 countries.

  • Established Product Portfolio: Offers solutions for surveillance, targeting, fire control and guidance.

  • Export Opportunities: Serves defence and security customers in international markets.

  • Technology Expertise: Develops integrated hardware and technology solutions for demanding operating environments.

  • Growing Defence Requirements: May benefit from increasing demand for modern surveillance, thermal imaging and defence-electronics systems.

• • Risks

  • Government and Defence Dependence: Business can be affected by defence procurement policies, tender timelines and government spending.

  • Long Sales Cycles: Defence contracts may involve lengthy testing, approvals and acceptance procedures.

  • Customer Concentration: Dependence on a limited number of large customers or contracts can affect revenue stability.

  • Technology Risk: Continuous investment and product development are required to remain competitive.

  • Export and Geopolitical Risk: International sales may be affected by export controls, geopolitical developments and regulatory restrictions.

  • Execution Risk: Delays in contract delivery, testing or customer acceptance may affect financial performance.

  • OFS-Only IPO: The company will not receive fresh funds from the public issue for business expansion or debt repayment.

Objects of the Issue & Utilisation of proceeds

• Offer for Sale (OFS): Existing shareholders will sell up to 1,21,74,046 equity shares.

• Fresh Issue: None.

• Utilisation of Proceeds: Proceeds will go to the selling shareholders. Tonbo Imaging India will not receive IPO proceeds for its business operations or expansion.

• Purpose of Listing: To provide liquidity and an opportunity for existing shareholders to sell part of their holdings

Company Address

Tonbo Imaging India Ltd.
No.3 Chikkayellappa Tower-II,1st C Main
Sarjapur Main Road, Jakkasandra Extension,
Chikkayellappa Industrial Layout
Bengaluru, Karnataka, 560034
Phone: 63 64 926 273
Email: compliance@tonboimaging.com
Website: https://tonboimaging.com/

IPO Registrar

Kfin Technologies Ltd.
Phone: 040-79615565
Email: tonbo.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/