Amansa Investments, SBI Mutual Fund, others invest Rs 413 Cr in Tonbo Imaging ahead of IPO
Amansa Investments, SBI Mutual Fund and HDFC Life Insurance Company, among others, have invested over Rs 413 crore in defence electronics maker Tonbo Imaging India Ltd through secondary share transactions, valuing the company at around Rs 4,000 crore.
In a significant move ahead of its Initial Public Offering (IPO), Tonbo Imaging India Ltd, a defence electronics maker, has secured investments of over Rs 413 crore from prominent investors. The transactions, completed on September 29-30 through secondary share sales, have valued the company at approximately Rs 4,000 crore. The largest buyer was Amansa Investments, which acquired 24.32 lakh shares at Rs 700 per share, totaling around Rs 170.24 crore.
This investment was followed by others from SBI Mutual Fund, HDFC Life Insurance Company, and HDFC Life Insurance Company, among others. The IPO of Tonbo Imaging, scheduled to open for public subscription on October 15 and close on October 19, will have a price band of Rs 665-700 per share. However, it is worth noting that the IPO is an Offer For Sale (OFS) only, meaning the company will not receive any proceeds from the issue.
Tonbo Imaging, founded in 2003 by technologists who previously worked with the US Department of Defense and Sarnoff Corporation, specializes in designing and manufacturing sensing, processing, communication, and guidance systems for various defence applications.
Written by urgent.news from YourStory's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
