Tonbo Imaging India Limited

Minimum Investments

₹13,965

Price Range

₹665 - ₹700

Issue Size

₹852.18 Cr

Lot Size

21shares

Proceeds of this IPO to be used for

To achieve the benefits of listing the equity shares on the stock exchanges and for the offer for sale of up to 18,085,246 equity shares

Strengths & Weaknesses

Defence technology solutions

The company is among the few in India that fully owns its intellectual property across optics, embedded software, electronics, and critical subsystems, enabling complete control over technology development and product evolution. As a software-led organization, it leverages AI, computational imaging, and sensor fusion to deliver low-SWaP, high-performance defence systems with rapid innovation and no dependence on external technology partners

Asset light business model

The company follows an asset-light, horizontally integrated model, developing core design and IP in-house while outsourcing manufacturing to certified EMS partners. This approach enables strong R&D focus, rapid innovation, and customized, low-SWaP defence electronics solutions aligned with evolving customer and operational requirements

Diversified defence product portfolio

As per the F&S Report, the company is a global defence electronics OEM with field-tested systems used for surveillance, reconnaissance, and targeting across ground, air, naval, and missile platforms worldwide. Its competitively priced, globally benchmarked products have been deployed in over 20,000 systems across 24 countries, winning international tenders in both developed and emerging markets

Licenses & approvals

The company operates in a highly regulated industry and is subject to stringent government laws and licensing requirements. Any failure to obtain, renew, or comply with statutory approvals could disrupt operations and adversely impact its financial performance and cash flows

Depend on R&D capabilities

The company’s operations rely heavily on R&D, and any failure to develop new products or adapt to changing customer needs could adversely affect its business and financial performance. Continuous investment in advanced technologies, including thermal sights, gimbals, targeting, and directed energy systems, enables the company to deliver innovative, customized solutions while improving production processes and product quality

Working capital & bank guarantee risks

The company has significant working capital requirements to finance raw materials, long-lead items, finished goods, and customer receivables, as well as to furnish bid and performance guarantees. Any inability to arrange sufficient working capital could adversely impact its operations, cash flows, and financial condition

Financials

Income Statement

Also called a profit and loss statement, an income statement shows a company’s income, expenses, and how much profit or loss it has made over a specific accounting period. It provides a clear view of how well the business is running.

Particulars (in Cr)	Jun 2026	Q/Q Change
Operating Revenue	36.01	-
Other Income	1.32	-
Total Income	37.32	-
Total Expenditure	49.05	-
EBIDT	-11.72	-
Depreciation	8.39	-
Interest	3.64	-
Tax	-6.01	-
Net Profit	-17.74	-

Balance Sheet

A balance sheet is a financial statement that details a company’s assets, liabilities, and shareholders’ equity at a given time. It helps assess how financially strong and stable the company is.

Particulars (in Cr)	Mar 2026
Total Current Assets	511.55
Total Non-Current Assets	270.95
Fixed assets	207.47
Total Assets	782.50
Total Current liabilities	193.72
Total Non Current Liabilities	35.62
Total Equity Plus Liabilities	782.50
Total Shareholder Funds	553.16
Total Debt to Equity	21.00%

Cash Flow

Cash flow highlights the cash or cash equivalents moving in and out of a company during a particular period. It provides a clear picture of how well a company manages its cash by tracking its operating, investing and financing activities.

Particulars (in Cr)	Mar 2026
Cash from Operating Activity	-63.22
Cash from Financing Activities	32.19
Cash from Investing Activities	-32.26
Net Cash Flow	-63.29

About the Company

Tonbo Imaging India was incorporated on December 18, 2003. The company is a global defence electronics OEM engaged in the design, development, and manufacture of sensing, processing, communication, and guidance systems for surveillance, reconnaissance, targeting, and control. Its diversified portfolio includes thermal imaging solutions, weapon sights, targeting systems, missile seekers, and guidance systems that enable battlefield autonomy

Promoter
Ankit Kumar
Promoter
Arvind Kondangi Lakshmikumar
Promoter
Cecilia D’Souza

FAQs for Tonbo Imaging India Limited IPO

Tonbo Imaging India Limited IPO refers to the initial public offering of shares by Tonbo Imaging India Limited. It is a process by which the company offers its shares to the public for the first time, allowing individuals to become shareholders.

For Tonbo Imaging India Limited IPO the issue size is ₹852 Cr. The issue size is the total value of the shares offered to the public. It represents the amount the company aims to raise through the IPO.

For Tonbo Imaging India Limited IPO the minimum investment is ₹14.0 K. The minimum investment for Tonbo Imaging India Limited IPO is the smallest amount an individual can invest to participate in the offering. It is usually determined by the company and regulatory requirements.

For Tonbo Imaging India Limited IPO the lot size is 21 shares. The lot size of Tonbo Imaging India Limited IPO refers to the number of shares that investors need to bid for and purchase in a single transaction. It is predetermined by the company and regulators.

To apply for Tonbo Imaging India Limited IPO on PhonePe Invest, go to the home page section and click/press on the browse IPOs section to view the open and upcoming IPOs. Select the Tonbo Imaging India Limited IPO from the list and click on apply now. Place your bids or choose the Cut-off Price option. Enter your UPI ID and set up your mandate to place your application.

Yes, investors can often pre-apply for some of the IPOs. Pre-application allows individuals to express their interest in participating in the IPO before the official subscription period begins. To pre- apply for Tonbo Imaging India Limited IPO on PhonePe Invest, go to the home page section and click/press on the browse IPOs section to view the open and upcoming IPOs. Select the Tonbo Imaging India Limited IPO from the list and click on pre-apply now. Once the IPO opens for subscription you can enter your UPI ID and set up your mandate to place your application.

The IPO application window typically remains open for 3 days, starting from the date of the IPO opening. However, this duration can vary depending on the specific IPO and the regulatory requirements.

You can apply for the IPO till 3 PM on the last day of application on PhonePe Invest.

For Tonbo Imaging India Limited IPO the allotment date is 21 Oct 2026. The allotment date of Tonbo Imaging India Limited IPO is the date on which shares are allocated to the successful bidders. It marks the distribution of shares to investors.

For Tonbo Imaging India Limited IPO, the subscription opens on 15 Oct 2026 and closes on 19 Oct 2026. The open and close dates of an IPO indicate the period during which investors can submit their bids to participate in the offering.