Ahead of IPO, Tonbo Imaging Garners Rs 255 Cr From Anchor Investors

New Delhi: Defence electronics maker Tonbo Imaging India Ltd on Wednesday raised Rs 255.36 crore from anchor investors ahead of its Rs 852-crore initial public offering (IPO), which will open for subscription on Thursday.

The company allotted 36.48 lakh equity shares to anchor investors at Rs 700 apiece, the upper end of the price band of Rs 665-700 per share, according to a circular.

Investors participating in the anchor round included Goldman Sachs, BlackRock, Aranda Investments, The Prudential Assurance Company and Allianz Global Investors.

Additionally, mutual funds including SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Nippon India MF, Aditya Birla Sun Life MF, Axis MF and WhiteOak Capital MF; and insurance firms — HDFC Life Insurance Company, Axis Max Life Insurance, Kotak Mahindra Life Insurance Company and Tata AIA Life Insurance Company — also participated in the anchor book.

The IPO will open on October 15 and close on October 19.

The issue comprises an offer for sale (OFS) of 1.22 crore equity shares by promoters and existing shareholders, with no fresh issue component.

Since the IPO is entirely an OFS, the company will not receive any proceeds from the issue.

Tonbo Imaging designs and manufactures sensing, processing, communication and guidance systems used in surveillance, reconnaissance, targeting and control applications. Its product portfolio includes thermal imaging cores, weapon sights, targeting systems, missile seekers, fire control systems and missile guidance systems. PTI SP KVK

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