CONNECT WITH US
Funding Tracker

Funding Tracker

Tonbo Imaging raises Rs 255 Cr from anchor investors ahead of IPO

Entrackr logo

Published on

Add as a preferred source on Google
Tonbo Imaging raises Rs 255 Cr from anchor investors ahead of IPO

Bengaluru-based defence technology startup Tonbo Imaging has raised Rs 255.36 crore from anchor investors ahead of its initial public offering (IPO), which opens for subscription on October 15.

The company allotted 36.48 lakh equity shares at Rs 700 per share, the upper end of its IPO price band. The anchor book saw participation from global investors such as BlackRock, Goldman Sachs, Temasek Holdings, Allianz Global Investors and Prudential, along with domestic mutual funds and insurance companies. SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund were among the domestic investors.

Tonbo Imaging has fixed a price band of Rs 665-700 per share for its Rs 852.2 crore IPO, which will close on October 19. The public issue comprises an offer for sale (OFS) of around 1.22 crore shares by existing shareholders, with no fresh issue component.

Founded by Ankit Kumar, Arvind Kondangi Lakshmikumar and Cecilia D'Souza, Tonbo Imaging develops imaging and surveillance systems for defence and security applications. Its products include thermal imaging systems, weapon sights, targeting systems, missile seekers and fire control systems.

The company supplies its products to government and defence agencies and operates in the defence electronics segment, which has gained attention amid India's push to strengthen domestic defence manufacturing. 

JM Financial and IIFL Capital Services are managing the IPO. The company's shares are proposed to be listed on the BSE and NSE.

88 crore. 01 crore.



Source link
Related Topics:Funding Tracker

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.