Tonbo Imaging files for ₹1,400cr IPO
Tonbo Imaging, a defense tech company, is going public with an IPO comprising a pure Offer for Sale—meaning existing shareholders are selling 1.8 crore shares (face value ₹2 each), and no new shares are being issued.
What does Tonbo Imaging do?
Tonbo Imaging builds advanced sensing and guidance systems used in defense surveillance and targeting.
They keep their business asset-light by outsourcing manufacturing but hold on to all the tech and software IP themselves.
Their products are already in use across 24 countries, with over 20,000 systems deployed.
Financials & other details
Tonbo's revenue grew to ₹68.68 crore for the three months ended June 30, 2025, with profits at ₹5.431 crore.
Promoters own about 19% of the company; most shares are held by investors.
JM Financial and IIFL Capital Services are managing the IPO.