Tonbo Imaging India IPO Shares List at ₹1,160 on NSE, 65.71% Premium

Tonbo Imaging India Ltd. shares made their stock market debut on Friday, October 23, 2026, listing at ₹1,160 per share on the National Stock Exchange (NSE), representing a premium of 65.71% over the IPO issue price of ₹700 per share. On the Bombay Stock Exchange (BSE), the stock opened at ₹1,162, reflecting a listing premium of 66%.

The stock opened ₹460 above the issue price on NSE and ₹462 above the issue price on BSE. Investors who received shares through the IPO allotment recorded a substantial gain at the opening price on both exchanges, before applicable transaction charges and taxes.

The listing followed the company's ₹852.18 crore initial public offering, which opened for subscription on October 15, 2026, and closed on October 19, 2026. The public issue received an overall subscription of 135.9 times, with the Qualified Institutional Buyers (QIBs) category recording the highest subscription at 293.56 times. The IPO price band was fixed at ₹665 to ₹700 per share.

Tonbo Imaging India is a Bengaluru-based defence technology company engaged in developing and manufacturing advanced electro-optical and infrared imaging systems. Its products are used in defence, surveillance, reconnaissance and other security-related applications.

Tonbo Imaging India IPO Listing Details

Tonbo Imaging India IPO was a ₹852.18 crore book-built issue comprising an offer for sale of 1,21,74,046 equity shares. The public offering did not include a fresh issue component.

Since the entire IPO comprised an offer for sale, Tonbo Imaging India will not receive any proceeds from the public offering. The proceeds, after applicable expenses, will go to the existing shareholders selling their stakes.

The IPO price band was fixed at ₹665 to ₹700 per equity share, with a minimum application lot of 21 shares. At the upper end of the price band, the minimum investment required from an Individual Investor was ₹14,700.

The IPO opened for subscription on October 15, 2026, and closed on October 19, 2026. The basis of allotment was scheduled for October 21, followed by the credit of shares to successful applicants' demat accounts on October 22, 2026.

The company's public offering involved existing shareholders, including promoters and institutional investors, selling part of their holdings. At the upper end of the IPO price band, the issue implied a market capitalisation of around ₹4,010 crore.

On October 23, 2026, Tonbo Imaging India shares listed at ₹1,160 on NSE and ₹1,162 on BSE, representing premiums of 65.71% and 66%, respectively, over the issue price.

• Issue Price: ₹700 per share

• NSE Listing Price: ₹1,160 per share

• BSE Listing Price: ₹1,162 per share

• NSE Listing Premium: 65.71%

• BSE Listing Premium: 66%

• Change From Issue Price at NSE Listing: +65.71%

• Change From Issue Price at BSE Listing: +66%

• Overall Subscription: 135.9 times

• Issue Size: ₹852.18 crore

• Fresh Issue: Nil

• Offer for Sale: 1,21,74,046 equity shares

• Price Band: ₹665 to ₹700 per share

• Lot Size: 21 shares

• Minimum Investment: ₹14,700

• IPO Open Date: October 15, 2026

• IPO Close Date: October 19, 2026

• Listing Date: October 23, 2026

• Exchange: NSE and BSE

First-Day Trading Performance

Tonbo Imaging India share price began trading substantially above their IPO issue price on both NSE and BSE on October 23, 2026.

Listing Price: On NSE, the stock opened at ₹1,160 per share, compared with the IPO issue price of ₹700, resulting in a premium of ₹460 per share, or 65.71%.

On BSE, Tonbo Imaging India shares opened at ₹1,162 per share, representing a premium of ₹462 per share, or 66%, over the issue price.

Listing Return: Investors allotted one lot of 21 shares at the issue price of ₹700 invested ₹14,700. At the NSE listing price of ₹1,160, the value of one lot stood at ₹24,360, representing a gain of ₹9,660 before applicable charges and taxes.

At the BSE listing price of ₹1,162, the corresponding lot value stood at ₹24,402, translating into a gain of ₹9,702 before charges and taxes.

Opening Performance: The stock's premium debut followed an IPO that received 135.9 times overall subscription. Institutional investors recorded the highest participation, with the QIB portion subscribed 293.56 times, while the NII category attracted 170.94 times subscription.

The opening prices on both exchanges reflected substantial gains over the issue price. However, these returns represent the prices at which trading commenced and do not account for subsequent intraday movements.

Tonbo Imaging India IPO Subscription Status

The Tonbo Imaging India IPO received an overall subscription of 135.9 times by the close of bidding on October 19, 2026.

The public issue attracted bids for 1,15,86,91,464 shares against 85,26,033 shares available for subscription, excluding the anchor investor portion.

Qualified Institutional Buyers recorded the highest subscription at 293.56 times, followed by Non-Institutional Investors at 170.94 times. The Individual Investors category was subscribed 31.06 times.The QIB category recorded the highest subscription multiple, with institutional investors bidding for substantially more shares than those reserved for the category. The NII portion was subscribed 170.94 times, while Individual Investors subscribed 31.06 times their allocated portion.

The total subscription of 135.9 times reflected participation across all major investor categories during the three-day bidding period.

About Tonbo Imaging India Ltd.

Tonbo Imaging India Limited is a Bengaluru-based defence electronics and imaging technology company incorporated in December 2003. The company designs, develops and manufactures advanced electro-optical and infrared imaging systems, embedded vision solutions and related technologies for defence and security applications.

Its product portfolio includes thermal imaging systems, surveillance equipment, targeting solutions, electro-optical sensors and imaging technologies used in military and security operations. These systems are designed to support detection, observation, navigation and situational awareness across different operational environments.

The company provides solutions for land-based, airborne and other defence platforms. Its technologies are used in surveillance, reconnaissance, targeting and advanced imaging applications, including operations in low-light and challenging visibility conditions.

Tonbo Imaging India operates in the defence electronics sector, where demand is influenced by military modernisation programmes, defence procurement requirements and the development of advanced surveillance and sensing technologies.

The company's business involves research and development, engineering, manufacturing and integration of specialised imaging and sensing systems. Its products serve defence forces, security agencies and organisations requiring advanced electro-optical capabilities.

The company's IPO was entirely an offer for sale by existing shareholders. The listing on NSE and BSE provides a public trading platform for Tonbo Imaging India's equity shares following the completion of its initial public offering.