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Tonbo Imaging bets on thermal sights, missile seekers and high-power microwave systems for growth

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Tonbo Imaging bets on thermal sights, missile seekers and high-power microwave systems for growth

Bengaluru-based global defence electronics original equipment manufacturer (OEM) Tonbo Imaging India Limited expects its next phase of growth to be driven by thermal weapon sights, missile seekers and high power microwave (HPM) systems, with the company preparing to scale up production as investments in research and development (R&D) begin to deliver results.

Arvind Lakshmikumar, Founder and Chief Executive Officer of Tonbo Imaging, said, “The way we looked at investment is we are investing for the future. What we are seeing today is what we invested 5-10, years back. If you want to build a large defence tech business out of India, it can't be done overnight. It needs time and it needs gestation and we are seeing fruition for it.”

Tonbo Imaging's initial public offering (IPO) opened for subscription on October 15 and will close on October 19. The company is looking to raise over ₹850 crore through an offer for sale (OFS), which allows existing investors to sell their shares. The proceeds will go to the selling shareholders rather than the company.

Tonbo Imaging sees significant room for growth in thermal weapon sights and other tactical imaging systems used by soldiers. The company has developed products for helmets, weapons and handheld imaging devices, and is now seeing stronger adoption of these technologies.

“65% of the market is owned by us in India,” Lakshmikumar said, referring to the company's position in thermal weapon sights.

According to the CEO, around 30,000 thermal weapon sights have been deployed in India, of which Tonbo Imaging has manufactured and supplied approximately 20,000.


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