The initial public offering (IPO) of defense electronics company Tombo Imaging India Limited will open on Thursday, October 15, 2026. The company has set a price range of ₹665 to ₹700 per equity share. Anchor investors will be able to bid on October 14, while the IPO will close on Monday, October 19.
Investors will be able to bid for a minimum of 21 equity shares, and bids can be made in multiples of 21 shares thereafter. Each share has a face value of ₹2. The IPO comprises an offer for sale (OFS) of up to 1,21,74,046 equity shares with a face value of ₹2. This means that existing shareholders will sell their shares through this issue.
Bengaluru-based Tonbo Imaging India is a global defense electronics original equipment manufacturer (OEM). The company designs, develops, and manufactures sensors, processing, communication, and guidance systems for surveillance, reconnaissance, targeting, and control. Its products include thermal imaging cores, weapon sighting systems, handheld thermal imaging binoculars, targeting systems, missile seekers, and fire control systems. The company offers these products under the Tactical Systems and Platform Systems categories. Additionally, the company is developing directed energy systems to counter drone swarms. As of June 30, 2026, the company had deployed over 28,000 systems in 24 countries.
The company is led by its promoters, Arvind Kondangi Lakshmikumar, Managing Director and Chief Executive Officer, Ankit Kumar, and Cecilia D’Souza. The company designs and develops its products in India. This helps keep its electro-optics and infrared product portfolio free from US International Arms Trade Regulations (ITAR) restrictions. Starting in fiscal year 2024, the company will own 100% of the intellectual property used in its products.
The Company operates on an asset-light business model. Design, prototype manufacturing, and testing are conducted at its R&D facility in Bengaluru, while large-scale manufacturing is outsourced to certified electronics manufacturing partners. The Company’s equity shares are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. The book running lead managers to the issue are JM Financial Limited and IIFL Capital Services Limited.
