Tonbo Imaging India IPO
Tonbo Imaging India IPO is a mainboard IPO raising ₹852 Cr at ₹665 – ₹700 a share. It listed on 23 Oct 2026 at ₹1,160, +65.7% against its issue price of ₹700, and trades at ₹1,213 today (+73.3% since issue). It was subscribed 136× in total.
135.9 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
100% of this issue is existing shareholders cashing out. Only ₹0 Cr reaches the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs700 + fresh by subtraction from exchange total Rs852 Cr. Checked: exchange issue size Rs852 Cr vs derived Rs852.2 Cr (0.0% apart).
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 6% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Paras Defence and Space Technologies Limited | 117.74× | — | ₹10.93 |
| Data Patterns (India) Limited | 87.29× | 17% | ₹48.47 |
| Astra Microwave Products Limited | 83.92× | — | ₹20.27 |
| Zen Technologies Limited | 73.44× | — | ₹21.52 |
| Bharat Electronics Limited | 45.7× | — | ₹8.29 |
| This issue | 78.8× | 9.75% | ₹8.88 |
derived: cut-off price Rs700 / stated EPS Rs8.88 (FY2026 (March 31, 2026) diluted EPS, restated consolidated; weighted average diluted EPS for the three reported FYs is 10.95). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.