Tonbo Imaging Raises ₹255 Cr From Anchor Investors Before IPO
Defence technology startup Tonbo Imaging has secured ₹255.4 crore from anchor investors ahead of its initial public offering. The company's public issue is set to open on October 15.
Defence technology firm Tonbo Imaging has raised ₹255.4 crore from anchor investors ahead of its planned initial public offering (IPO). The company's public issue, which consists entirely of an offer for sale (OFS), will open on October 15.
According to data from the Bombay Stock Exchange (BSE), Tonbo Imaging allocated 3.65 million equity shares to 43 anchor investors at ₹700 per share, the upper end of its IPO price band. Domestic mutual funds, including SBI Infrastructure Fund and HDFC Mutual Fund, subscribed to 57.7% of the anchor allocation. Global investors such as Goldman Sachs and BlackRock also participated.
The IPO has set a price band of ₹665-₹700 per share, valuing the company at approximately $480 million at the upper end. The offer comprises up to 12.2 million equity shares.
Founded in 2012, Tonbo Imaging designs and develops advanced imaging and sensor systems for defence applications. Its clients include NATO and the US Navy SEALs. For the first quarter of FY27, the company reported a net loss of ₹17.7 crore. Revenue for the fiscal year 2025-26 declined by 22.7%.