Tonbo Imaging IPO: price band ₹665-700, bidding 15 to 19 October, minimum ₹14,700
The defence-electronics maker's public offer is reported to run from 15 to 19 October 2026 at ₹665-700 a share, about ₹852 crore, entirely an offer for sale. Price band, lot size, dates and sellers in one place.
Tonbo Imaging India Limited, a defence-electronics maker, has set the price band for its initial public offering (IPO, the first sale of a company’s shares to the public) at ₹665 to ₹700 per share. According to Upstox, bidding is open from 15 to 19 October 2026, and a retail investor must bid for at least one lot of 21 shares, which costs ₹14,700 at the top of the band.
Key facts
| Item | Detail |
|---|---|
| Bidding period | 15 to 19 October 2026 (Upstox, HDFC Sky) |
| Price band | ₹665 to ₹700 per share (Upstox, HDFC Sky, The Machine Maker) |
| Lot size | 21 shares; ₹14,700 at ₹700 (Upstox) |
| Issue size | About ₹852 crore (Upstox gives ₹852.18 crore) |
| Shares offered | About 1.22 crore equity shares, all in an offer for sale |
| Allotment, refunds | Basis of allotment 21 October; refunds and shares to demat accounts 22 October (Upstox) |
| Proposed listing | NSE and BSE, 23 October 2026 (Upstox) |
| Quota | Up to 50% of the net offer for qualified institutional buyers (large institutions), 35% for retail investors, 15% for non-institutional investors (Upstox) |
| Lead managers | JM Financial, IIFL Capital Services |
| Registrar | KFin Technologies |
Who is selling
The whole issue is an offer for sale (OFS): existing shareholders sell their shares and the company itself receives no money from the issue. The reports name the promoters Arvind Kondangi Lakshmikumar, Cecilia D’Souza and Ankit Kumar, along with Vinimaya Advisory LLP, as selling shareholders. The other sellers named are CEAQ Technologies Pvt Ltd and CEAQ Technologies Pte Ltd (Upstox), Timothy Guy Mitchell, Artiman Partners LLC, Ramesh Radhakrishnan and Amit Dilip Shah.
What the company does
According to Upstox and HDFC Sky, Tonbo designs and makes sensing, processing, communication and guidance systems for surveillance, reconnaissance, targeting and control. Products named include weapon sights, handheld thermal imaging binoculars, thermal imaging cores, missile seekers and fire control systems. The reports say customers include defence forces, homeland security bodies, defence equipment makers and law enforcement agencies.
Basis of these figures
The red herring prospectus and the exchange announcement of the price band could not be opened during drafting. Every figure above comes from news and market-data reports. The price band, bidding dates, offer-for-sale structure, sellers, lead managers and registrar appear in at least two reports. The lot size, the allotment, refund and listing dates, and the quota split come from Upstox alone. The ₹14,700 minimum is arithmetic on the reported lot size and upper price (21 × ₹700). Read the prospectus, filed with SEBI, for the authoritative terms. This article reports the issue’s terms only. It carries no view on whether to apply and no unofficial pre-listing price data.