Bengaluru-based defence technology firm Tonbo Imaging has witnessed significant pre-IPO activity, with existing shareholders offloading shares worth over Rs 413 crore to institutional investors. This secondary market transaction, executed at Rs 700 per share, precedes the company's Rs 852 crore initial public offering scheduled for October 15-19, 2026.
Key Investors Acquire Significant Stakes
The share transfers, which took place on September 29 and 30, 2026, involved CEAQ Singapore and CEAQ India selling 59,11,200 equity shares. This sale valued Tonbo Imaging at Rs 4,000 crore on a fully diluted basis, aligning with the upper end of its IPO price band of Rs 665-700 per share.
Among the prominent buyers, Amansa Investments secured the largest block, acquiring 24,32,000 equity shares worth Rs 170.24 crore. Renowned investor Akash Manek Bhansali also purchased 24,32,000 equity shares valued at Rs 39.59 crore, while multiple SBI Funds collectively bought 7,87,000 shares for Rs 55.09 crore.
Other significant participants included Susquehanna Asia Technology, Valuequest Founder Conviction Fund, and 360 ONE Multi-Stage Defence and Space Fund, each picking up 5,72,800 equity shares valued at Rs 40.10 crore. Malabar India, HDFC Life Insurance Company, and Samruddhi Investments also made purchases.
Tonbo Imaging IPO Details
The upcoming Tonbo Imaging IPO is structured entirely as an Offer for Sale (OFS) of up to 1,21,74,046 equity shares by existing shareholders. Consequently, the company itself will not receive any proceeds from the public issue.
Founded in December 2003, Tonbo Imaging India operates as a global defence electronics Original Equipment Manufacturer (OEM). The company specializes in the design, development, and manufacturing of advanced electro-optic, infrared, embedded vision, communication, guidance, and surveillance systems crucial for defence and security applications.