Tonbo Imaging India Limiteda global defence electronics OEM, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for an initial public offering (IPO).
The IPO will consist entirely of an Offer for Sale (OFS) of up to 18,085,246 equity shares of face value ₹2 each. The OFS includes 1,960,000 shares by promoter selling shareholders, 339,700 shares by promoter group selling shareholders, and 15,635,046 shares by investor selling shareholders.
Founded in 2003, Tonbo Imaging transitioned into a defence-focused product manufacturing company in 2012 following a promoter buyout. The company is promoted by Arvind Lakshmikumar, Ankit Kumar and Cecilia D’Souza. Marquee investors include Qualcomm Ventures, Artiman, Edelweiss Value, Celesta Capital II LP, HBL Engineering, Tenacity Ventures, India Exim Bank and Florintree.
As per its DRHP, the company was the fastest-growing defence technology player in India in terms of revenue, EBITDA and PAT margin growth (CAGR FY23–FY25) among listed peers and accounted for 93% of India’s thermal imaging exports in FY25.
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