Tonbo Imaging IPO subscribed 6.29x on day two of ₹852 Cr issue

Indian defence tech firm Tonbo Imaging's ₹852.18 Cr IPO drew 6.29x subscription by day two, with grey market premium reaching 71%. The price band is ₹665–700 per share, valuing the company at about ₹4,010 Cr, with listing expected on October 23. FY26 revenue fell 22.7% YoY to ₹362.65 Cr and net profit dropped 30% to ₹50.88 Cr.

• IPO price band set at ₹665–700 per share, valuing Tonbo at up to ₹4,010 Cr
• Subscription reached 6.29x on day two, grey market premium hit 71%
• FY26 revenue fell 22.7% to ₹362.65 Cr, net profit down 30% to ₹50.88 Cr
• Company has deployed over 28,000 systems across 24 countries