Tonbo Imaging India shares jumped over 17% on Monday, 26 October, extending their strong post-listing rally. The stock made a stellar debut on 23 October, listing at ₹1,160 on the NSE, a 65.71% premium over its IPO price of ₹700 per share. On the BSE, it debuted at ₹1,162, marking a 66% premium.
The stock has now climbed around 90% above its issue price, reflecting strong investor interest following its market debut. After listing, Tonbo Imaging India's market capitalisation stood at around ₹7,111 crore on the BSE.
According to BSE data, PRB Securities Pvt. Ltd. bought 3,71,195 shares at ₹1,117.10 apiece and sold 26,537 shares at ₹1,081.90 on 23 October. Meanwhile, Irage Broking Services LLP bought 5,09,569 shares at ₹1,125.95 apiece and sold 3,10,631 shares at ₹1,099.43.
Mahesh M. Ojha, Vice President of Research and Business Development at Kantilal Chhaganlal Securities Pvt. Ltd., said investors who received an allotment in the IPO could consider booking partial profits on listing gains and holding the remaining shares for the long term, given strong product demand, a favourable sector outlook and the company's long-term growth potential.
Another analyst said investors who secured an IPO allotment could hold the shares for the long term. Those who missed the issue could consider entering on any post-listing correction.