Tonbo Imaging gets SEBI nod for offer for sale IPO
Tonbo Imaging, a major player in defense tech, just got the go-ahead from SEBI for its IPO.
But here is the catch: this is an offer for sale, so up to 18.09 million shares are being sold by existing investors, meaning Tonbo itself will not actually raise any new money from this move.
Tonbo dominates India's thermal imaging exports
Tonbo is not just another tech company: they have dominated India's thermal imaging exports with a huge 94.3% share between FY24 and FY26, and their gear is now used in 24 countries.
Founded back in 2003 and led by Arvind Kondangi Lakshmikumar, Ankit Kumar, and Cecilia D'Souza, Tonbo's story is all about innovation meeting global demand.
If you are tracking Indian defense startups or looking at how homegrown companies are making waves internationally, this IPO is one to watch.