Tonbo Imaging India Limited, a Bengaluru-based defence electronics manufacturer, will open its initial public offering (IPO) on Thursday, October 15, 2026. The price band has been fixed at ₹665–700 per equity share, with a face value of ₹2 each.
The anchor investor bidding will take place on Wednesday, October 14, while the offer will close on Monday, October 19, 2026. Investors can bid for a minimum of 21 equity shares and in multiples of 21 shares thereafter.
The IPO comprises an Offer for Sale (OFS) of up to 12,174,046 equity shares. The company’s shares are proposed to be listed on the BSE and the National Stock Exchange of India.
Tonbo Imaging designs, develops and manufactures defence electronics systems for surveillance, reconnaissance, targeting and control. Its portfolio includes thermal imaging cores, weapon sights, handheld thermal imaging binoculars, targeting systems, missile seekers and fire control systems.
As of June 30, 2026, the company had deployed more than 28,000 systems across 24 countries. It is also developing directed energy systems to counter drone swarms.
Led by Managing Director and CEO Arvind Kondangi Lakshmikumar, along with promoters Ankit Kumar and Cecilia D’Souza, Tonbo Imaging develops its products in India. Since FY2024, the company has owned 100% of the intellectual property used in its products.
The company follows an asset-light model, with design, prototyping and testing carried out at its Bengaluru R&D centre and large-scale manufacturing outsourced to certified electronics manufacturing partners.
JM Financial Limited and IIFL Capital Services Limited are the book-running lead managers to the offer.
