Tonbo Imaging India IPO

Tonbo Imaging India IPO comprises a total issue size of 1,21,74,046 shares. The net offer to the public is 1,21,60,046 shares, after excluding 14,000 shares under a preferential allotment. Of the Net offer 60,80,023 (50.00%) are allocated to QIB , 18,24,007 (15.00%) allocated to NII 42,56,016 (35.00%) allocated to RII .

Investors can bid for a minimum of 21 shares and in multiples thereof.

Incorporated in December 2003, Tonbo Imaging India Limited is a global defence electronics original equipment manufacturer (OEM) engaged in the design, development, and manufacturing of advanced electro-optic, infrared (EO/IR), embedded vision, communication, guidance, and surveillance systems for defence and security applications. The company offers a diversified portfolio of battlefield solutions, including thermal imaging systems, weapon sights, missile seekers, fire control systems, missile guidance systems, targeting systems, and handheld thermal imaging devices.

Products:

Tactical systems: These systems are focused on the functions of imaging, surveillance, reconnaissance and targeting.

Platform systems: Two kinds of platform systems - (a) subsystems that can provide observation and fire control capabilities to a range of aerial, ground and weapon platforms and (b) end platforms that actually perform the task of threat neutralization.

Directed energy systems: To counter the threat of drone swarms, they have designed a portfolio of technology components that are being assembled into a high power microwave ("HPM") platform with the brand name - WaveStrike.

Tonbo serves defence and security organizations across 24 countries with over 28,000 field-deployed systems. The company is India's largest manufacturer of thermal imaging systems for government and defence agencies (FY24-FY26) and the country's largest exporter of thermal imaging systems by volume. Its products are developed using fully owned intellectual property and are free from ITAR (International Traffic in Arms Regulations) restrictions, enabling exports to global markets without geopolitical limitations.

The company operates an innovation-driven business model backed by strong in-house R&D, proprietary technologies, and advanced manufacturing capabilities. As an approved supplier under India's IDDM (Indigenously Designed, Developed and Manufactured) defence procurement framework, Tonbo supports the Government's 'Make in India' and 'Atmanirbhar Bharat' initiatives.

As of June 30, 2026, the company employed 339 permanent employees across product design & development, manufacturing, project management, sales, finance, HR, and management functions.

Key Strengths

Leading defence electronics OEM with proprietary electro-optic and thermal imaging technologies.

Strong in-house R&D capabilities with complete ownership of core intellectual property.

Diversified portfolio of battlefield surveillance, targeting, guidance, and imaging solutions.

Global presence with 28,000+ deployed systems across 24 countries and ITAR-free export capability.

Asset-light, innovation-driven business model supported by healthy financial performance.

Experienced management team with deep expertise in defence technology and product development.

Tonbo Imaging India Ltd.'s revenue decreased by 22% and profit after tax (PAT) dropped by 30% between the financial year ending with March 31, 2026 and March 31, 2025.

The Tonbo Imaging India IPO is subscribed 132.81 times on October 19, 2026 5:42:39 PM (Day 3). The public issue subscribed 31.11 times in the retail category, 293.56 times in the QIB category, and 156.36 times in the NII category. Check Day by Day Subscription Details (Live Status)

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Total Applications: 55,24,267