Tonbo Imaging India, a Bengaluru-based defence electronics original equipment manufacturer (OEM), has fixed the price band for its upcoming initial public offering (IPO) at Rs 665–700 per share. The issue comprises 1.2 crore equity shares, with the company seeking a valuation of Rs 4,010 crore.
The company aims to raise up to Rs 852 crore through the public issue, which comprises entirely an offer for sale (OFS) by existing shareholders.
Promoters Arvind Kondangi, Lakshmikumar, Ankit Kumar and Cecilia D’Souza, along with investors including CEAQ Technologies, Timothy Guy Mitchell, Artiman Partners LLC and Ramesh Radhakrishnan, will be the selling shareholders in the OFS.
The public issue will open for subscription on October 15 and close on October 19, while the anchor book for institutional investors will open for a day on October 14.
The IPO share allotment is expected to be finalised on October 21, and the company's shares are likely to list on the stock exchanges on October 23.