Tonbo Imaging IPO Oversubscribed 40.8X
Defence technology firm Tonbo Imaging's initial public offering has been oversubscribed 40.82 times on its third day of bidding. Investors have placed bids for 34.8 million shares against the 850,000 shares on offer.
Defence technology company Tonbo Imaging's initial public offering (IPO) has seen significant investor demand, being oversubscribed 40.82 times by the third day of bidding. According to BSE data, investors have bid for 34.8 million shares against the 850,000 shares made available. Non-institutional investors (NIIs) led the demand, with their allocated portion being subscribed 101.78 times.
The portion reserved for retail investors was subscribed 20.67 times, while qualified institutional buyers (QIBs) saw their portion subscribed 30.37 times. Employee reservations were subscribed 38.6 times. The ₹852.1 crore IPO consists entirely of an offer for sale (OFS) of up to 12 million shares, with no fresh issue component, priced between ₹665 and ₹700 per share.
Prior to the IPO, Tonbo Imaging raised ₹255.4 crore from 43 anchor investors by allotting 3.65 million shares at ₹700 each. The company, which designs and develops advanced imaging and sensor systems for surveillance and military applications, has recently reported a decline in financial performance.
For the fiscal year ended March 2026, Tonbo's revenue from operations fell 22.7% to ₹362.6 crore from ₹469.1 crore in the previous fiscal year. Net profit decreased to ₹50.8 crore from ₹72.8 crore. In the first quarter of the current fiscal year, the company reported operating revenue of ₹36 crore and a net loss of ₹17.7 crore.