Global defence electronics OEM Tonbo Imaging India Ltd. has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities & Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
The issue comprises an Offer for Sale of up to 18,085,246 equity shares of face value of ₹2 each.
The company is India’s leading exporter of thermal imaging systems in FY25 . It has global footprint across 24 countries.
Founded in 2003 by technologists with prior experience at the U.S. Department of Defense and Sarnoff Corporation, Tonbo Imaging transitioned into a defence-focused product manufacturing company in 2012 following the buyout by its promoters.
The company is promoted by Arvind Lakshmikumar, Ankit Kumar and Cecilia D’Souza.
The investors who are invested in the company include Qualcomm Ventures, Artiman, Edelweiss Value, Celesta Capital II LP, HBL Engineering, Tenacity Ventures, India Exim Bank and Florintree.
The company operates an asset-light model, retaining core design and IP ownership while outsourcing manufacturing to certified electronics manufacturing services (EMS) partners such as Kaynes Technology India Ltd and Avalon Technology and Services Private Ltd though all prototype development, system integration, and qualification testing are conducted in-house.
Published – December 31, 2025 08:11 pm IST
