Tonbo Imaging IPO Oversubscribed Nearly 8 Times on Day 2
Defence tech firm Tonbo Imaging's IPO was oversubscribed 7.78 times by the end of the second bidding day. Retail investors showed the highest demand relative to their allocation.
The INR 852 crore Initial Public Offering (IPO) for defence technology company Tonbo Imaging was oversubscribed nearly 8 times by the close of its second bidding day. Investors placed bids for 6.63 million shares against the 852,600 shares on offer, as reported by Inc42.
Retail individual investors were the most active, oversubscribing their quota by 7.13 times. Non-institutional investors (NIIs) showed the strongest demand proportionally, oversubscribing their allocation by 14.35 times. Qualified Institutional Buyers (QIBs) saw an oversubscription of 3.95 times.
Tonbo Imaging specializes in advanced imaging and sensor systems for military applications, including surveillance, reconnaissance, and targeting. The company handles in-house prototype development and system integration, while outsourcing manufacturing to partners.
For the first quarter, Tonbo reported operating revenue of INR 36 crore and a net loss of INR 17.7 crore. For the fiscal year ending March 2026, revenue from operations declined 22.7% to INR 362.6 crore, and net profit fell 43% year-on-year to INR 50.8 crore.