Tonbo Imaging Draws ₹413 Crore Before IPO, Amansa Joins Investor Line-Up
· Free Press Journal
Mumbai: Defence electronics manufacturer Tonbo Imaging India has attracted approximately ₹413 crore in investment ahead of its initial public offering, with Amansa Investments and other institutional investors joining its shareholder base.
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The transactions involved purchases from existing shareholders rather than a fresh capital infusion into the company. Shares changed hands at ₹700 apiece, matching the upper end of the IPO price band.
Amansa Investments acquired 24.32 lakh shares, translating into an investment of ₹170.24 crore. The company's prospectus lists Amansa with a 4.25% holding before the public offer.
Tonbo Imaging Sets ₹665–700 IPO Price Band, ₹852 Crore Share Sale Opens October 15Institutional Investors Join Defence Technology Firm
Other buyers named in the prospectus include SBI Emergent India Fund, SBI Optimal Equity Fund, HDFC Life Insurance, Malabar India Fund and Susquehanna Asia Technology.
Valuequest Founders Conviction LVF, 360 ONE Multi-Stage Defence and Space Fund, Akash Manek Bhanshali and Samruddhi Investments also participated in the share transfers.
The purchases were recorded in late September, ahead of Tonbo Imaging's scheduled entry into the public market. Gazette Notification PDF
Tonbo Imaging IPO Dates and Price Band
The company has announced a ₹852 crore IPO with a price band of ₹665–700 per share. Public subscription opens on October 15 and closes on October 19.
The offering consists entirely of an offer for sale of approximately 1.22 crore equity shares by promoters and existing investors. Tonbo Imaging will therefore receive no proceeds from the IPO.
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Tonbo Imaging develops sensing, processing, communication and guidance systems for surveillance, reconnaissance and targeting applications.
Its products include thermal imaging cores, weapon sights, handheld thermal binoculars, missile seekers and fire control systems. Customers include defence forces, law enforcement agencies, homeland security organisations and defence equipment manufacturers.
JM Financial and IIFL Capital Services are the book-running lead managers, while KFin Technologies is the registrar.
The pre-IPO transactions and forthcoming public offering both provide existing shareholders with routes to sell holdings, while introducing investors to the defence technology company's ownership.