

Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Tonbo Imaging India Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.

Price Band
₹665 - ₹700
Per Share
Lot Size
21 Shares

Minimum Investment
₹13,965

Issue Size
₹852.18 Cr

Face Value
₹2
Per Share
IPO Type
Book Building

Retail Quota
35%

QIB Quota
0%

NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
17.43%
Promoter Holding (Post-Issue)
14.01%
Issue Type
Book Building
ISIN
INE0LDG01026
We are a global defence electronics original equipment manufacturer ("OEM"). We design, develop and manufacture sensing, processing, communication and guidance systems for surveillance, reconnaissance, targeting, and control. We have developed a diversified product portfolio including thermal imaging cores, weapon sights, hand-held thermal imaging binoculars, targeting systems, missile seekers, fire control systems, missile guidance systems amongst others to enable autonomy on the battlefield.
As per the F&S Report, India's defense budget has demonstrated steady, if incremental, year-on-year growth over the past decade, reflecting both inflationary adjustments and a broader shift toward modernization, strategic deterrence, and indigenization. India's defense spending is projected to increase steadily from USD 87.2 billion in FY2025 to USD 107.7 billion by FY2030. For FY2025-26, the Ministry of Defence has allocated Rs.6,81,210.27 crore (USD 78.9 billion) to defense, of which Rs.1,92,388 crore (USD 22.3 billion) is earmarked as capital outlay. This represents a continuation of India's gradual but deliberate pivot toward capability-building and modernization.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of up to 12,174,046 equity shares of face value of Rs.2/- each ("Equity Shares") of Tonbo Imaging India Limited ("the company" or the "Issuer") for cash at a price of Rs.[*] per equity share (including a premium of Rs.[*] per equity share) ("Offer Price") aggregating to Rs.[*] crores through an offer for sale (the "Offer" or "Offer for Sale") of up to 1,150,000 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Arvind Kondangi Lakshmikumar, up to 580,000 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Ankit Kumar, up to 230,000 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Cecilia D'souza (Collectively Referred to as the "Promoter Selling Shareholders"), up to 339,700 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Vinimaya Advisory LLP (the "Promoter Group Selling Shareholder"), up to 4,998,100 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Ceaq Technologies Private Limited, up to 4,155,096 equity shares of face value of Rs.2/- each by Ceaq Technologies Pte. Ltd., up to 208,700 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Timothy Guy Mitchell, up to 197,350 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Artiman Partners LLC, up to 84,600 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Amit Dilip Shah*, up to 80,000 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Ramesh Radhakrishnan, up to 69,400 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Artiman Ventures Select 2014 L.P., up to 1,100 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Artiman Ventures Select 2014 Principals Fund L.P., (collectively, "Investor Selling Shareholders"), and up to 80,000 equity shares of face value of Rs.2/- each aggregating to Rs.[*] crores by Tiruvidaimarudhur Srivatsan Sivashankar and Meera Sivashankar ("other selling shareholders" and together with the promoter selling shareholders, promoter group selling shareholder and investor selling shareholders, referred to as the "Selling Shareholders" and Such Equity Shares of face value of Rs.2/- each Offered by the Selling Shareholders, the "Offered Shares"). The offer shall constitute [*]% of the post-offer paid-up equity share capital of the company. Price Band: Rs. 665/- to Rs. 700/- for equity share of face value of Rs. 10 each. The floor price is 332.50 times times the face value and cap price is 350.00 times of the face value of the equity shares. Bids can made for a minimum of 21 equity shares and in multiples of 21 equity shares thereafter.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Our Company was originally incorporated as "Sarnoff Innovative Technologies Private Limited" as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 18, 2003, issued by the Registrar of Companies, Karnataka at Bengaluru ("RoC"). Subsequently, the name of our Company was changed to "Serial Innovations India Private Limited" pursuant to a certificate of incorporation dated August 14, 2008 issued by the RoC and thereafter, the name of our Company was changed to "Tonbo Imaging India Private Limited" pursuant to a certificate of incorporation dated May 13, 2016 issued by the RoC. Upon the conversion of our Company from a private limited company to a public limited company, pursuant to a resolution passed by the Board of Directors dated August 15, 2025, and a Shareholders' resolution dated August 15, 2025, the name of our Company was changed to "Tonbo Imaging India Limited", and a fresh certificate of incorporation dated September 11, 2025 was issued by the RoC.
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
*Subject to approvals and market conditions.