Tonbo Imaging IPO Grey Market Premium Hits Rs 500
The Tonbo Imaging India IPO is currently seeing a grey market premium of Rs 500 per share, which points to a potential listing increase of 71.43% above the top end of its price range. The Rs 852.18-crore public offering began subscription on Oct. 15 and will end on Oct. 19. Based on the current premium, the projected listing price is estimated at Rs 1,200 per share, compared with the upper limit of the price band at Rs 700. Nonetheless, this grey market premium is unofficial and does not assure the actual listing price or returns.
Market Sentiment Shifts
Recent trading sessions have seen the grey market premium for Tonbo Imaging India’s IPO rise, moving from Rs 270 on Oct. 11 to Rs 425 on Oct. 12 and Rs 490 on Oct. 13. The premium further climbed to Rs 500 on Oct. 14 and stayed at that level on Oct. 15. The offering involves an offer for sale valued at Rs 852.18 crore, meaning funds raised will go to existing shareholders, not the company itself.
Details:
IPO opening date Oct. 15, 2026
IPO closing date Oct. 19, 2026
Price band Rs 665 – Rs 700 per share
Issue size Rs 852.18 crore
Issue structure Entirely offer for sale
Latest GMP Rs 500
Estimated listing price Rs 1,200
Implied listing premium 71.43%
Tentative allotment date Oct. 21, 2026
Tentative listing date Oct. 23, 2026
Company Background
Tonbo Imaging India operates within the defence electronics industry, focusing on electro-optic and infrared systems, thermal imaging, surveillance, communication technologies, and guidance mechanisms. Its product lineup includes thermal imaging tools, weapon sights, missile guidance systems, fire-control units, and targeting solutions for defence and security sectors globally. The company provides these technologies to defence and security agencies across various international markets.
The company’s consolidated revenue for FY26 was Rs 369.94 crore, a decline from Rs 474.39 crore in FY25. Profit after tax dropped to Rs 50.88 crore, down from Rs 72.76 crore in the prior year, reflecting reduced income and profitability. Prospective investors should evaluate the company’s financial health, valuation, future prospects, and associated risks before investing.
The minimum retail application requires 21 shares, costing Rs 14,700 at the upper price band. Should the shares debut at the estimated Rs 1,200 price, a retail lot could yield an approximate gain of Rs 10,500, excluding fees and taxes.
