IPO · Government, Defense & Space
SEBI approves Tonbo Imaging's first IPO filing
By Startup Enthusiast ·
- Date
- Company
- Tonbo Imaging
- What it does
- Thermal imaging for defence
- Kind
- IPO
- Stage
- SEBI approval
- Based in
- Bengaluru
- Founded
- 2003
What they do
Tonbo Imaging, founded in 2003, makes defence electronics and turned to defence manufacturing after a 2012 promoter buyout
What happened
In July 2026 SEBI cleared its IPO, a sale of up to 1.81 crore existing shares, alongside Zetwerk and others
Why it matters
Promoters Arvind Lakshmikumar, Ankit Kumar and Cecilia D'Souza, plus investors, would sell shares; it later refiled its papers
The details
- SEBI approved Tonbo Imaging's IPO plan in July 2026.
- The same batch included Zetwerk, Marri Retail and others.
- The IPO is an offer for sale of up to 1.81 crore shares of ₹2 each.
- Investor holders would sell about 1.56 crore of those shares.
- Tonbo later filed fresh papers in August with a similar size.
The bigger picture
- Tonbo was founded by technologists who had worked with the US Department of Defense and Sarnoff Corporation.
- Its investors include Qualcomm Ventures, Celesta and India Exim Bank.
- A second approval came in September 2026.
About the business
- Tonbo is a defence electronics maker.
- It focuses on thermal imaging.
- It is based in Bengaluru.
About Tonbo Imaging
- Product
- Thermal imaging systems, surveillance systems, high power microwave systems and other defense electronics for military applications
- Customers
- Defense and government organizations, including Indian military branches
- How it makes money
- Defense technology manufacturing and OEM services with domestic and export sales
- What sets it apart
- Indigenous defense technology addressing military and strategic needs with domestic manufacturing
Other articles talking about it
More on Tonbo Imaging
- Tonbo Imaging gets SEBI nod for IPO28 September 2026 · IPO
- Tonbo Imaging India files for initial public offering12 September 2026 · IPO
- Tonbo reports profit drop ahead of IPO filing11 August 2026 · Results
- Tonbo Imaging wins Navy microwave weapon contract19 May 2026 · Partnership
- Tonbo Imaging files draft papers for IPO23 December 2025 · IPO
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