The initial public offering (IPO) of Bengaluru-based defence electronics manufacturer Tonbo Imaging India saw strong demand on the last day of bidding, with the issue receiving over 10 times subscription by 10:15 am on October 19, according to NSE data.
In the grey market, the Tonbo Imaging India shares were commanding a premium of 75 percent on the morning of October 19, as per InvestorGain. However, grey market premiums are unofficial indicators and do not guarantee listing gains.
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The company has fixed the price band for its Rs 852.18-crore IPO at Rs 665–700 per share. The IPO opened for subscription on October 15 and will close on October 19. The allotment is expected to be finalised on October 21, while the shares are likely to list on the BSE and NSE on October 23, subject to the final issue schedule.
The public issue comprises an offer for sale (OFS) of 1,21,74,046 equity shares, with no fresh issue component. At the upper end of the price band, the issue is valued at Rs 852.18 crore, implying a company valuation of around Rs 4,010 crore.