Tonbo Imaging India IPO is commanding a grey market premium of Rs 490 ahead of its opening on Oct. 15, indicating an estimated listing premium of 70% over the upper end of its price band. The defence electronics company's Rs 852.18 crore initial public offering will remain open for subscription until Oct. 19.
At the upper end of the price band of Rs 700 per share, the latest grey market premium points to an estimated listing price of Rs 1,190 per share. However, the grey market premium is unofficial and can change before the shares begin trading.
Tonbo Imaging India IPO GMP And Expected Listing Price
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Particulars | Details |
Latest GMP | Rs 490 |
Price band | Rs 665–700 |
Estimated listing price | Rs 1,190 |
Implied listing premium | 70% |
Lot size | 21 shares |
Minimum investment | Rs 14,700 |
Indicative gain per lot | Rs 10,290 |
The indicative listing price is calculated by adding the latest GMP to the upper price band of Rs 700. At this premium, a retail investor applying for one lot of 21 shares would see an estimated gain of Rs 10,290, excluding applicable costs, if the shares list at the implied price.
The estimate is based on the grey market premium and does not represent a guaranteed listing price or return.
Tonbo Imaging India IPO Subscription Status, Dates
The IPO is scheduled to open on Oct. 15 and close on Oct. 19. The basis of allotment is tentatively scheduled for Oct. 21, while the shares are expected to list on the BSE and NSE on Oct. 23.
The public issue comprises an offer for sale of Rs 852.18 crore, meaning the entire issue consists of existing shareholders selling their shares. The company will not receive proceeds from the offer for sale.
What Does Tonbo Imaging India Do?
Tonbo Imaging India is a defence electronics manufacturer specialising in electro-optic and infrared technologies, thermal imaging equipment, surveillance systems, weapon sights, and missile guidance solutions. Its products cater to defence and security organisations across 24 countries, with more than 28,000 systems deployed.
The company's financial performance, however, warrants attention alongside the strong grey market premium. Its consolidated total income declined to Rs 369.94 crore in fiscal 2026 from Rs 474.39 crore in fiscal 2025. Net profit fell to Rs 50.88 crore from Rs 72.76 crore over the same period. For the quarter ended on June 30, total income for the quarter stood at Rs 37.32 crore, while the company made losses of Rs 17.74 crore during the quarter.
Investors will also track the company's execution, profitability, and demand for its specialised defence technologies as the IPO opens for subscription.
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