Tonbo Imaging ₹852 Cr Defence Tech IPO Subscribed 6.3x on Day 2

16 Oct 2026, 1:39 pm · 8h ago · 1 min read · Inc42

Amount

₹852.18 Cr

Stage

IPO

Bengaluru-based defence technology company Tonbo Imaging saw its ₹852.18 crore initial public offering subscribed 6.29 times on the second day of bidding on October 16. The issue, which consists entirely of an offer for sale of 1.22 crore equity shares, has a price band of ₹665 to ₹700 per share, valuing the company at ₹4,010 crore at the upper end. Founded in 2003, Tonbo develops imaging, sensing, and counter-drone systems deployed across 24 countries. The IPO closes on October 19, with listing scheduled on the BSE and NSE on October 23.