Tonbo Imaging India’s IPO is reported to open on October 15, 2026, with a price band of ₹665–700 per share. The reported issue is entirely an offer for sale (OFS), meaning selling shareholders—not the company—would receive the proceeds. These terms come from an October 11 news report and remain subject to confirmation in the final offer document or an exchange notice.
Tonbo Imaging IPO: reported offer terms
ET Now Swadesh reported the following terms on October 11, 2026. The offer was still a pre-opening announcement as of October 12; check the final offer document or an exchange notice for confirmed terms and dates.
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| Item | Reported detail |
|---|---|
| Price band | ₹665–700 per share |
| Issue size | ₹852.18 crore |
| Lot size | 21 shares |
| Subscription window | October 15–19, 2026 |
| Anchor bidding | October 14, 2026 |
| Expected allotment | October 21, 2026 |
| Expected listing | October 23, 2026 |
| Lead managers | JM Financial and IIFL Capital Services |
The reported minimum application is one lot: 21 shares. At the lower end of the reported band, that is ₹13,965; at the upper end, it is ₹14,700, before any applicable charges. These calculations use the reported lot size and price band, which should be verified against final terms.
What an all-OFS issue means
The reported IPO is entirely an offer for sale. Existing shareholders sell shares in the offer; the company is not issuing new shares to raise fresh capital through it. Tonbo Imaging India’s draft prospectus says the company will not receive the offer proceeds. The selling shareholders receive the proceeds, after their respective offer expenses and taxes.
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- 【Longer Runtime, Fewer Charges】Designed for efficiency, this thermal imaging camera gives you 15 hours of power and automatic shut-off options at 5, 10, and 20-minute intervals to extend battery life. Keep going without the hassle of frequent charging, no matter how long your inspections last. A charging cable is given with the machine, but no charging head.
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The draft red herring prospectus describes up to 18,085,246 shares offered for sale. Because an OFS does not provide new issue proceeds to the company, investors should not treat the reported issue size as money available to fund the issuer’s expansion or operations.
What Tonbo Imaging does
Tonbo Imaging India is a Bengaluru-based defence-electronics manufacturer focused on vision-technology products and solutions. Its systems are designed for surveillance, reconnaissance, targeting and control, and its reported product categories include thermal imaging cores, weapon sights, handheld thermal imaging binoculars, targeting systems, missile seekers, fire-control systems and missile-guidance systems.
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- 【User-Friendly Operation】Weighing just 240g, this compact thermal imager offers a balanced feel with a non-slip grip even during extended use. Intuitive button controls let you power on, navigate menus, capture images, and switch between seven color palettes effortlessly—so you can start inspecting right away.
- 【Multi-Scenario Application】Built with high-precision sensors (NETD < 50mK), it detects subtle temperature differences down to 0.05°C. The -4°F to 1022°F temperature range handles everything from household inspections to high-heat diagnostics, including home kitchens, insulation checks, and automotive maintenance.Adjustable emissivity and distance settings help improve accuracy across materials like cement, ceramic,etc.
- 【Fast Anomaly Detection with Instant Alerts】A 50° wide field of view lets you scan larger areas in less time. Set custom high and low temperature alarms for instant alerts when temperatures exceed your limits. Adjustable level and span settings enhance thermal contrast, making it easier to identify issues such as insulation gaps and floor heat loss.
- 【All-Day Battery Life 】The built-in 2500mAh rechargeable battery provides up to 14 hours of continuous use for uninterrupted inspections. Backed by a 1-year warranty for added peace of mind.
This is specialized equipment for defence and government-facing applications, not evidence of a general consumer product business. The company’s prospects therefore need to be assessed in the context of its customers, contracts and procurement environment rather than consumer-device demand.
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What remains uncertain before the offer opens
The SEBI filing page records draft offer documents filed on August 14, 2026. A draft filing is not confirmation of final offer terms. The opening and closing dates, price band, lot size and other details in news coverage should be checked against the final offer document or a relevant exchange notice before an investor acts.
Rank #3
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- 【Smart PC Analysis with 2D/3D & Temperature Insights】Easily transfer images from this thermal imager to Windows PC(Not compatible with Mac) for advanced analysis. The included software supports point, line, and area temperature analysis, 2D/3D thermal imaging, and automatic report generation. Complex thermal data from this infrared cameras thermal imaging device is instantly transformed into actionable, shareable insights, helping you solve problems efficiently and professionally.
- 【Built-in 8GB eMMC Storage for Over 20,000 Images】Capture and store more than 20,000 images and videos with this thermal camera, preserving every detail of your inspections. The 8GB eMMC storage ensures all critical thermal imaging data is saved securely and easily accessible. Whether documenting electrical panels, HVAC systems, or machinery, your ir camera keeps all inspection records organized and ready for analysis.
- 【Accurate Temperature Measurement with Smart Alerts】Measure temperatures from –4°F to 1022°F with ±3.6°F / ±2% accuracy. The RT280 thermal imaging camera automatically detects the highest, lowest, and central temperature points. High/low alarms instantly alert you to anomalies, making it easy to prevent overheating, insulation gaps, or mechanical faults. Clear visual and auditory warnings improve efficiency and safety in every inspection.
- 【9 Color Palettes, Laser Targeting & LED Light】Switch between 9 color palettes to visualize subtle temperature differences with clarity. The built-in laser pointer and LED light allow precise targeting in dark or confined spaces. This infrared camera makes it easy to locate hotspots, leaks, or irregular temperature patterns, delivering professional-grade thermal imaging for electrical, HVAC, plumbing, or mechanical diagnostics.
The issuer’s draft prospectus says this is the company’s first public offering and that there has been no formal market for its equity shares. It cautions that the floor price, cap price and offer price should not be treated as indicative of the post-listing market price, and gives no assurance of active or sustained trading or of the eventual trading price. It also states that the shares have not been recommended or approved by SEBI; SEBI does not guarantee the prospectus’s accuracy or adequacy.
The prospectus identifies geopolitical factors, government budget cycles and tender-based procurement as sources of cyclicality and weak revenue visibility. Defence-sector demand or a company’s stated market position does not guarantee future results.
Rank #4
- 【Dual Mode Inspection】Combines thermal imaging with Center/Hot/Cold spot modes for real-time visual temperature display, and integrates thermometer mode for fast point-and-shoot readings with precise digital output. Full-screen thermal imaging enables continuous monitoring of moving targets,ensuring stable observation without loss of detail during dynamic inspections.
- 【User-Friendly Operation】 At just 240g, this compact thermal imager features a non-slip grip and balanced handheld design for comfortable long-duration inspections or mobile use. It offers intuitive button controls for power on/off, menu navigation, and image capture, and supports 7 selectable color palettes, enabling fast switching.
- 【Multi-Scenario Application】It supports a broad measurement range from -4°F to 1022°F with enhanced with adjustable emissivity and distance settings,making it suitable for applications.Equipped with a high-sensitivity sensor (NETD < 50mK), the thermal camera can detect extremely subtle temperature differences as small as 0.05°C.
- 【Quick Anomaly Detection with Alerts 】Featuring a 50° wide field of view, the device enables faster scanning of large surfaces and broader inspection coverage. It supports custom high/low temperature alarms for instant notification when abnormal thermal conditions are detected. Level and span adjustment functions make it easier to clearly identify localized issues.
- 【All-Day Battery Life】Built-in 2500mAh rechargeable battery provides up to 14 hours of continuous operation, supporting full-day inspection without frequent recharging. The device also includes a 1-year warranty, ensuring long-term reliability and peace of mind for using.
How to read grey-market premium reports
IPO Ji reported an unofficial grey-market premium of ₹260 per share at 6:45 AM IST on October 12, 2026, equivalent to 37% of the reported ₹700 upper band. This is informal-market information, not an exchange-published price. IPO Ji describes it as indicative, subject to change without notice, and not a forecast or guarantee of the actual listing price. It should not be read as a predicted listing price.
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Sources
- SEBI filing page — draft offer-document filing record dated August 14, 2026.
- ET Now Swadesh, October 11, 2026 — reported dates, price band, lot size, issue size and lead managers.
- Tonbo Imaging India Limited draft red herring prospectus — offer structure, proceeds and risk disclosures.
- IPO Ji, October 12, 2026, 6:45 AM IST — unofficial grey-market premium report and its caveats.
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