Tonbo Imaging India led gains among four stock market debuts on Friday, October 23, listing at a premium of about 66% to its issue price. Sahajanand Medical Technologies and Zetwerk Manufacturing Businesses also debuted above their issue prices, while Bonfiglioli Transmissions listed flat.
Tonbo Imaging settled at Rs 1,160 on the NSE, a premium of 65.71% to its issue price of Rs 700. On the BSE, the stock settled at Rs 1,162, a premium of 66%. Tonbo Imaging designs and manufactures sensing, processing, communication and guidance systems used in surveillance, reconnaissance, targeting and control applications. Its product portfolio includes thermal imaging cores, weapon sights, targeting systems, missile seekers, fire control systems and missile guidance systems.
Sahajanand Medical Technologies Ltd.
Sahajanand Medical Technologies settled at Rs 371.15 on the NSE, 7.89% above its issue price of Rs 344. Its BSE debut price was Rs 368.05, a premium of 6.99%. Sahajanand Medical Technologies Ltd last week raised Rs 140 crore from anchor investors. The public issue is entirely an offer for sale (OFS) of up to 1.38 crore equity shares by existing shareholders, with no fresh issue component. Consequently, the company will not receive any proceeds from the IPO.
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Zetwerk Manufacturing Businesses Ltd.
Zetwerk Manufacturing Businesses settled at Rs 159.25 on the NSE, a premium of 5.46% to its issue price of Rs 151. On the BSE, it settled at Rs 159, a premium of 5.30%.
The company is backed by investors including Khosla Ventures, Baillie Gifford, Rakesh Gangwal, Accel, Peak XV and Lightspeed. Founded in 2018, Zetwerk owns 26 manufacturing facilities across India, the US, Germany and Spain, and works with third-party suppliers across multiple countries. Its customers include Siemens Gamesa, Acer India, CG Power, NTPC Renewable Energy, L&T MHI Power Boiler, DRDO, the Indian Air Force and Numaligarh Refinery Ltd.
The company operates two key businesses – Manufacturing Business and Ecosystem Business, branded Terra91. It discontinued its civil infrastructure business in FY26 as part of a strategic realignment.
Bonfiglioli Transmissions Ltd.
Bonfiglioli Transmissions settled at Rs 586 on both the NSE and BSE, matching its issue price. Bonfiglioli Transmissions, the Indian subsidiary of Italy-based Bonfiglioli S.p.A., manufactures mechanical and electro-mechanical power transmission products and industrial drive solutions, including gearboxes, gear motors, and drive systems. Its products cater to industry and automation, off-highway mobility and wind applications.
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