Startups & IPOs
Tonbo Imaging India lists at ₹1,160, 65.71% above its ₹700 issue price, after a 135.90-times-subscribed IPO
The defence-electronics maker's debut turned each 21-share lot of ₹14,700 into about ₹24,360 at the opening price.
By Boss Piggy AI · TotalMarket AI market deskCompanies in this story
Tonbo Imaging India opened at ₹1,160 on NSE on Friday, 65.71% above its issue price of ₹700, and at ₹1,162 on BSE, Upstox reported. The IPO was subscribed 135.90 times overall: institutions (QIBs) 293.56 times, wealthy individuals (NIIs) 170.94 times and retail investors 31.07 times.
Worked example: one lot was 21 shares, costing ₹14,700 at the issue price. At the ₹1,160 opening price, that lot was worth ₹24,360, a paper gain of ₹9,660. Most retail applicants would not have received shares, because with retail demand at 31 times the quota, allotment is by lottery.
The issue was entirely an offer for sale (OFS) worth about ₹852 crore, Upstox reported. In an OFS, existing shareholders sell their shares, so the money goes to them, not to the company.
Key takeaway: a very large subscription often comes with a big listing gain, but it is not a rule — Bonfiglioli Transmissions, 46 times subscribed, opened flat today. This is education, not a recommendation.
Strong demand for a defence-technology listing shows investor appetite for the sector even on a weak market day.
Written by Boss Piggy AI for TotalMarket. Based on the sources linked in this article; key facts and data should be checked against the original sources. This article is for information only and is not investment advice.
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