Tonbo Imaging India Ltd IPOTONBO

Initial public offer of 12,174,046 equity shares of face value of Rs. 2 each ("Equity Shares") of Tonbo Imaging India Limited ("The Company" or the "Issuer") for cash at a price of Rs. 700 per equity share (including a premium of Rs. 698 per equity share) ("Offer Price") aggregating to Rs. 852.09 Crores through an offer for sale (the "Offer" or "Offer for Sale") of 1,150,000 equity shares of face value of Rs. 2 each aggregating to Rs. 80.5 Crores by Arvind Kondangi Lakshmikumar, 580,000 equity shares of face value of Rs. 2 each aggregating to Rs. 40.6 Crores by Ankit Kumar, 230,000 equity shares of face value of Rs. 2 each aggregating to Rs. 16.1 Crores by Cecilia D'souza (Collectively Referred to as the "Promoter Selling Shareholders"), 339,700 equity shares of face value of Rs. 2 each aggregating to Rs. 23.78 Crores by Vinimaya Advisory LLP (the "Promoter Group Selling Shareholder"), 4,998,100 equity shares of face value of Rs. 2 each aggregating to Rs. 349.87 Crores by Ceaq Technologies Private Limited, 4,155,096 equity shares of face value of Rs. 2 each aggregating to Rs. 290.86 Crores by Ceaq Technologies Pte. Ltd., 208,700 equity shares of face value of Rs. 2 each aggregating to Rs. 14.61 Crores by Timothy Guy Mitchell, 197,350 equity shares of face value of Rs. 2 each aggregating to Rs. 13.82 Crores by Artiman Partners LLC, 84,600 equity shares of face value of Rs. 2 each aggregating to Rs. 5.92 Crores by Amit Dilip Shah*, up to 80,000 equity shares of face value of Rs. 2 each aggregating to Rs. 5.6 Crores by Ramesh Radhakrishnan, 69,400 equity shares of face value of Rs. 2 each aggregating to Rs. 4.86 Crores by Artiman Ventures Select 2014 L.P., 1,100 equity shares of face value of Rs. 2 each aggregating to Rs. 0.08 Crores by Artiman Ventures Select 2014 Principals Fund L.P., (collectively, "Investor Selling Shareholders"), and 80,000 equity shares of face value of Rs. 2 each aggregating to Rs. 5.6 Crores by Tiruvidaimarudhur Srivatsan Sivashankar and Meera Sivashankar ("Other Selling Shareholders" and together with the promoter selling shareholders, promoter group selling shareholder and investor selling shareholders, referred to as the "Selling Shareholders" and Such Equity Shares of face value of Rs. 2 each Offered by the Selling Shareholders, the "Offered Shares"). The offer constituted 21.25% of the post-offer paid-up equity share capital of the company. The offer included a reservation of 14,000 equity shares of face value of Rs. 2 each, aggregating to Rs. 0.89 Crores (constituting to 0.02% of the post-offer paid-up equity share capital), for subscription by eligible employees ("Employee Reservation Portion"). The company, in consultation with the brlms, offered a discount of 9.29% of the offer price (equivalent of Rs. 65.00 per equity share) to eligible employees bidding in the employee reservation portion ("Employee Discount"), subject to necessary approvals as were required. The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 21.25% and 21.23% of the post-offer paid-up equity share capital of the company, respectively. Price Band: Rs. 700.00 per equity share bearing face value of Rs. 2 each. The floor price is 350.00 times of the face value of the equity shares. Bids can made for a minimum of 21 equity shares of face value of Rs. 2 each and in multiples of 21 equity shares of face value of Rs. 2 each thereafter.

Tonbo Imaging India Limited was originally incorporated as 'Sarnoff Innovative Technologies Private Limited' as a private limited company dated December 18, 2003, with the Registrar of Companies, Karnataka at Bengaluru. Subsequently, the name of Company was changed to 'Serial Innovations India Private Limited' dated August 14, 2008 and thereafter to 'Tonbo Imaging India Private Limited' pursuant to a certificate of incorporation dated May 13, 2016 issued by the RoC. Upon the conversion of Company from a private limited company to a public limited company, the name of Company was changed to 'Tonbo Imaging India Limited', and a fresh certificate of incorporation dated September 11, 2025 was issued by the RoC. The Company is a global defence electronics original equipment manufacturer. It engages in providing vision technology based products and solutions. It has developed a diversified product portfolio including thermal imaging cores, weapon sights, hand-held thermal imaging binoculars, targeting systems, missile seekers, fire control systems, missile guidance systems amongst others to enable autonomy on the battlefield. The Company was incorporated in 2003 as a subsidiary of a research company initially providing R&D and technology development services focused on designing intellectual property. In 2012, post the buyout of the erstwhile subsidiary of the research company by the Promoters, it transitioned into a defense-focused product manufacturing company, developing and supplying advanced electro-optic and electronic systems. Company offers a diverse suite of field-proven electro-optical solutions. Field-proven denotes systems that have been operationally validated in live combat and security environments, demonstrating reliability, durability, and mission effectiveness under real-world conditions. The Company started production in 2015. It infrared imaging, low power sensor fusion, computational imaging. In April 2025, the Company made critical technologies to counter large scale aerial threats, like detection, tracking and neutralization. It launched high power microwave remote weapon stations counter UAS and made strategic partnerships with Governments for national security. Company has filed a Draft Prospectus with SEBI and is planning a fresh issue of 18,085,246 equity shares of Rs 2 each through Offer for Sale.