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Tonbo Imaging IPO Oversubscribed Nearly 7X On Day 2 So Far

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Tonbo Imaging IPO Oversubscribed Nearly 7X On Day 2 So Far

Defence tech company Tonbo Imaging’s ₹852.1 Cr IPO continued to receive healthy investor interest on the second day of bidding. Investors have placed bids for about 5.93 Cr shares against the 85.26 Lakh shares on offer, implying an oversubscription of 6.95X.

Demand for the IPO was led by retail individual investors, who have placed bids for 2.70 Cr shares against the 42.6 Lakh shares reserved for them. This translates to a 6.34X oversubscription of their category.

Trailing RIIs, non-institutional investors (NIIs) have cumulatively bid for 2.25 Cr shares against 18.24 Lakh shares reserved for them, implying an oversubscription of 12.36X. 

Within this category, investors have placed 1.18 Cr bids for lots valued over ₹10 Lakh while lots in the range of ₹2-10 Lakh have attracted 1.08 Cr bids till now.

Qualified institutional buyers (QIBs) have bid for 95.83 Lakh shares against their quota of 24.3 Lakh, implying 3.94X oversubscription. 

Meanwhile, employees of the company have placed bids for nearly 1.68 Lakhs shares against the 14K shares reserved for them, oversubscribing to their allocation by 12.03X.

Prior to the opening of the IPO, Tonbo allotted 36.5 Lakh shares to 43 anchor investors at ₹700 apiece, raising ₹255.4 Cr. 

2 Cr shares with no fresh issue component, will close on October 19. 8 Cr at the upper end of the price band.



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