Tonbo Imaging India Ltd. IPO Details
Tonbo Imaging India was incorporated on December 18, 2003. The company is a global defence electronics OEM engaged in the design, development, and manufacture of sensing, processing, communication, and guidance systems for surveillance, reconnaissance, targeting, and control. Its diversified portfolio includes thermal imaging solutions, weapon sights, targeting systems, missile seekers, and guidance systems that enable battlefield autonomy
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 18.1 M | - | - | ₹0 | DRHP DOC |
Tonbo Imaging issue details
Tonbo Imaging has 18.1 M shares on offer
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Tonbo Imaging IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Tonbo Imaging NUMBER OF SHARES ON OFFER
Tonbo Imaging FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 362.6 | 50.9 | -63.2 | -102.2 | 28.9% |
| FY25 | 469.1 | 72.8 | -136.1 | -162.8 | 29.7% |
| FY24 | 428.2 | 68.5 | 78.3 | -108.9 | 26.2% |
Tonbo Imaging INFORMATION ON IPO ISSUE
About Tonbo Imaging
Tonbo Imaging India was incorporated on December 18, 2003. The company is a global defence electronics OEM engaged in the design, development, and manufacture of sensing, processing, communication, and guidance systems for surveillance, reconnaissance, targeting, and control. Its diversified portfolio includes thermal imaging solutions, weapon sights, targeting systems, missile seekers, and guidance systems that enable battlefield autonomy
Object of the Issue
- To achieve the benefits of listing the equity shares on the stock exchanges and for the offer for sale of up to 18,085,246 equity shares
Tonbo Imaging - PROMOTERS
| Name |
|---|
| Ankit Kumar |
| Arvind Kondangi Lakshmikumar |
| Cecilia D’Souza |
Tonbo Imaging - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Sonal Shrivastava | Chairperson & Independent Director |
| Arvind Kondangi Lakshmikumar | Managing Director & Chief Executive Officer |
| Ankit Kumar | Executive Director & Chief Business and Revenue Officer |
| Cecilia D’Souza | Executive Director & Chief Commercial Officer |
| Amit Dilip Shah | Nominee Director |
| Sai Ram Edara | Nominee Director |
| Mathew Cyriac | Nominee Director |
| Rishikesha Thiruvenkata Krishnan | Independent Director |
| Lakshminarayana R Kollengode | Independent Director |
Tonbo Imaging Book Running Lead Manager
JM Financial Limited
tonbo.ipo@jmfl.com
IIFL Capital Services Limited
tonbo.ipo@iiflcap.com
Tonbo Imaging Registrar to the Offer
KFin Technologies Limited
tonbo.ipo@kfintech.com
Tonbo Imaging Strengths
Defence technology solutions
The company is among the few in India that fully owns its intellectual property across optics, embedded software, electronics, and critical subsystems, enabling complete control over technology development and product evolution. As a software-led organization, it leverages AI, computational imaging, and sensor fusion to deliver low-SWaP, high-performance defence systems with rapid innovation and no dependence on external technology partners
Asset light business model
The company follows an asset-light, horizontally integrated model, developing core design and IP in-house while outsourcing manufacturing to certified EMS partners. This approach enables strong R&D focus, rapid innovation, and customized, low-SWaP defence electronics solutions aligned with evolving customer and operational requirements
Diversified defence product portfolio
As per the F&S Report, the company is a global defence electronics OEM with field-tested systems used for surveillance, reconnaissance, and targeting across ground, air, naval, and missile platforms worldwide. Its competitively priced, globally benchmarked products have been deployed in over 20,000 systems across 24 countries, winning international tenders in both developed and emerging markets
Tonbo Imaging Risks
Licenses & approvals
The company operates in a highly regulated industry and is subject to stringent government laws and licensing requirements. Any failure to obtain, renew, or comply with statutory approvals could disrupt operations and adversely impact its financial performance and cash flows
Depend on R&D capabilities
The company’s operations rely heavily on R&D, and any failure to develop new products or adapt to changing customer needs could adversely affect its business and financial performance. Continuous investment in advanced technologies, including thermal sights, gimbals, targeting, and directed energy systems, enables the company to deliver innovative, customized solutions while improving production processes and product quality
Working capital & bank guarantee risks
The company has significant working capital requirements to finance raw materials, long-lead items, finished goods, and customer receivables, as well as to furnish bid and performance guarantees. Any inability to arrange sufficient working capital could adversely impact its operations, cash flows, and financial condition
IPO FAQs
The promoters of the company are Ankit Kumar, Arvind Kondangi Lakshmikumar and Cecilia D’Souza.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.