Defence electronics OEM Tonbo Imaging India Limited has moved closer to listing after filing its DRHP with SEBI, proposing a public issue entirely through an Offer for Sale by existing shareholders.
The company is among the few Indian defence players with 100% ownership of its intellectual property, without reliance on external technology partners. Its mission focuses on developing autonomous and integrated battlefield solutions that assist, augment or replace human decision-making.
As of September 30, 2025, Tonbo Imaging reported an order book of ₹2,665.70 million, with additional orders of ₹716.80 million received in the subsequent two months. The company supplies thermal imaging and advanced sensing systems across 24 countries.
The IPO is being managed by JM Financial Limited and IIFL Capital Services Limited as book-running lead managers.
