Tonbo Imaging sets IPO price band ₹665-700
By Abha Lohia ·
Tonbo Imaging: revenue and funding and every story →
- Tonbo Imaging designs thermal imaging, targeting and guidance systems used in surveillance and defence by forces in many countries
- The price band is ₹665 to ₹700 a share for an ₹852 crore issue open from 15 to 19 October
- The offer is entirely a sale by promoters and investors, so the company receives no money from it
What happened
- Price band is ₹665-700.
- Issue size is ₹852 crore.
- Bidding runs 15-19 October.
- It is fully an offer for sale.
Why it matters
- The company gets no proceeds; sellers cash out.
- It adds to a busy defence-tech listing run.
The business
- Tonbo makes thermal imaging cores, weapon sights and missile seekers.
- It sells to defence forces and security agencies.
The founders
Who put in money
- Artiman Partners Selling shareholder
What happens next
- Bidding opens 15 October.
Words to know
- Offer for sale
- Existing holders sell shares; the company raises nothing.
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the general public and gets listed on a stock exchange. In India the process is supervised by SEBI and ends with the shares trading on the NSE and BSE.
- Price band: The red herring prospectus (RHP) is the near-final IPO document that carries the price band and the opening and closing dates. From the day the band is announced, a main board IPO runs for three working days of bidding and lists a few days later.
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