Sebi approves IPOs of defence electronics maker Tonbo Imaging and 3 others

Sebi has approved IPOs of four companies: Tonbo Imaging India (defence electronics OEM, entire offer for sale of up to 1.81 crore shares), Marri Retail (fresh issue up to Rs 522 crore plus offer for sale of 2.7 crore shares), Zetwerk (B2B manufacturing tech firm targeting a raise of about Rs 4,200 crore), and Gujarat Victory Forgings (copper cathode manufacturer with fresh issue of up to 65 lakh shares). Tonbo's IPO comes amid strong investor interest in defence and strategic technology companies. Bankers to the Zetwerk issue include Kotak Mahindra Capital, JM Financial, Avendus, Pantomath and the Indian units of HSBC, Morgan Stanley and Goldman Sachs.