The initial public offering (IPO) of Bengaluru-based defence electronics manufacturer Tonbo Imaging India is commanding a strong grey market premium (GMP) of nearly 72 percent ahead of its launch on October 15, according to market tracking platform InvestorGain.
The grey market premium stood at 71.43 percent on the morning of October 14, indicating strong speculative interest ahead of the public issue. However, grey market premiums are unofficial indicators and do not guarantee listing gains.
The company has fixed the price band for its Rs 852.18-crore IPO at Rs 665–700 per share. The IPO will open for subscription on October 15 and close on October 19. The anchor book for institutional investors is scheduled to open on October 14.
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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.