Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
Tonbo Imaging India Ltd. has filed a Draft Red Herring Prospectus (DRHP) with SEBI on December 22, 2025 to raise funds through Initial Public Offer (IPO).
Tonbo Imaging India Ltd. IPO is a Book Build Issue consisting entirely of an offer for sale of upto 1.81 crore shares.
The equity shares are proposed to be listed on NSE and BSE. JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Tonbo Imaging IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | |
| Lot Size | |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,80,85,246 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 1,80,85,246 shares of ₹2 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 5,72,82,100 shares |
| Share Holding Post Issue | 5,72,82,100 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Mon, Dec 22, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 2 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2003, Tonbo Imaging India Limited designs, develops, and manufactures sensing, processing, communication, and guidance systems used for surveillance, reconnaissance, targeting, and control applications. The company focuses on miniaturised and modular technologies for defence and security use cases.
Products
The company’s products form components of the battlefield intelligence stack and are classified into three categories:
1. Tactical systems, used by soldiers and security forces for imaging, surveillance, reconnaissance, and targeting.
2. Platform systems, comprising subsystems integrated into land, air, and weapon platforms, as well as selected end platforms such as loitering munitions.
3. Directed energy systems, including high-power microwave solutions for counter-drone applications, integrated with long-range detection and tracking systems for day and night operations.
Products are deployed across applications such as remote weapon stations, missile seekers, situational awareness systems, optical reconnaissance payloads, and driver vision enhancement systems for armoured vehicles.
The company follows an asset-light business model with horizontal integration, retaining core design and intellectual property developed indigenously or assigned to it, while outsourcing manufacturing to certified electronics manufacturing services (EMS) partners, including Kaynes Technology India Limited and Avalon Technology and Services Private Limited.
In addition to domestic supply, the company has supplied products to overseas customers. As of June 30, 2025, it has supplied to 24 countries, including India, Armenia, Romania, Slovenia, the USA, Morocco, South Korea, the UAE, and the Philippines.
As of June 30, 2025, the company had 293 permanent employees.
Tonbo Imaging India Ltd.'s revenue increased by 10% and profit after tax (PAT) rose by 6% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 652.62 | 726.36 | 574.68 | 171.10 |
| Total Income | 70.69 | 474.39 | 431.90 | 98.86 |
| Profit After Tax | 5.43 | 72.76 | 68.54 | 1.18 |
| EBITDA | 14.97 | 139.07 | 112.32 | 10.22 |
| NET Worth | 499.00 | 490.14 | 230.13 | 29.92 |
| Total Borrowing | 59.61 | 78.14 | 96.36 | 41.02 |
| Amount in ₹ Crore | ||||
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 20.20% |
| ROCE | 27.36 % |
| RoNW | 20.20% |
| PAT Margin | 15.34% |
| EBITDA Margin | 29.65% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.70 | 3.79 |
| Promoter Holding | 18.58% |
Lead Manager Reports
Tonbo Imaging IPO is a main-board IPO of 1,80,85,246 equity shares of the face value of ₹2 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Tonbo Imaging IPO open and close dates are not available as of now.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Tonbo Imaging IPO using UPI as a payment gateway. Zerodha customers can apply in Tonbo Imaging IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tonbo Imaging IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tonbo Imaging IPO dates are not announced. Please check back again after some time.
Tonbo Imaging IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Tonbo Imaging IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Tonbo Imaging IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Tonbo Imaging IPO allotment status.
The Tonbo Imaging IPO listing date is not yet announced. The tentative date of listing is .
