Tonbo Imaging India, a Bengaluru-based defence electronics original equipment manufacturer (OEM), has raised Rs 255.36 crore from anchor investors, including global investment firms such as Goldman Sachs, Temasek Holdings, BlackRock, The Prudential Assurance Company, and Allianz Global Investors, on October 14.
The anchor fundraising comes a day ahead of the company's Rs 852.2-crore initial public offering (IPO), which will open for subscription on October 15 and close on October 19. The price band for the public issue has been fixed at Rs 665–700 per share.
The IPO comprises an offer-for-sale (OFS) of 1.21 crore equity shares, with no fresh issue component. Accordingly, the net proceeds from the offering, after deducting issue-related expenses, will go to the selling shareholders, including the promoters. The company will not receive any proceeds from the IPO.
Of the total anchor allocation of 36.48 lakh shares, Tonbo Imaging allotted 21.05 lakh shares to 12 domestic mutual funds, including SBI Mutual Fund, HDFC AMC, ICICI Prudential AMC, Kotak Mahindra AMC, Nippon Life India Asset Management, Aditya Birla Sun Life AMC, Axis Mutual Fund, Mirae Asset, and Helios Mutual Fund.
HDFC Life Insurance, Kotak Mahindra Life Insurance, Axis Max Life Insurance, and Tata AIA Life Insurance collectively acquired 2.85 lakh shares worth Rs 20 crore.