Tonbo Imaging India's initial public offering closed on 19 October 2026 at 135.9 times the shares on offer, according to a Lapaas Voice report published on 20 October. The issue is ₹852.18 crore at a price band of ₹665–₹700 a share. It is entirely an offer for sale, so the company receives no fresh equity capital from the public.
Demand by category
Qualified institutional buyers bid 293.56 times their portion, non-institutional investors 170.94 times, retail investors 31.07 times and the employee quota 54.31 times. The report says institutions bid for about 71.39 crore shares against about 24.32 lakh reserved, and non-institutional investors about 31.18 crore against about 18.24 lakh. Retail investors bid about 13.22 crore shares against about 42.56 lakh reserved. On day two the issue had been subscribed 7.78 times.
Issue structure
About 1.22 crore shares are on offer. Before the issue opened, 43 anchor investors were allotted about 36.5 lakh shares at ₹700, raising about ₹255.4 crore. The lot size is 21 shares, so the minimum application at the upper band is ₹14,700. At the upper band the company's market value is about ₹4,009.8 crore.
Dates ahead
The issue opened on 15 October. Share allotment is due on 21 October, and listing on BSE and NSE is expected on 23 October. The report gives no grey market premium and notes that such premiums are not a reliable guide to listing prices.
Key numbers
- Overall subscription: 135.9 times (Closed 19 October)
- Institutional (QIB): 293.56 times (Largest category)
- Retail: 31.07 times (Smallest of the main categories)
- Issue size: ₹852.18 crore (Offer for sale only)
What boards and CFOs should note
Three points stand out. First, most of the demand came from institutions and large non-institutional bidders, not from retail. Second, an offer-for-sale means selling shareholders take the money. Third, allotment and listing dates fall within days, so the market will soon show how the shares trade.
Source: Lapaas Voice, 20 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
