Tonbo Imaging IPO 2026: Price Band, Dates, GMP, Issue Size & Review

Tonbo Imaging India Limited, incorporated in December 2003, is a prominent global defence electronics original equipment manufacturer (OEM) specializing in the design, development, and production of sophisticated electro-optic, infrared (EO/IR), embedded vision, and surveillance systems for critical defence and security applications.

The company’s advanced portfolio spans Tactical Systems (imaging, surveillance, reconnaissance, targeting), Platform Systems (subsystems for aerial/ground platforms and end-platform threat neutralization), and Directed Energy Systems, notably including its “WaveStrike” high-power microwave (HPM) platform designed to counter drone swarms. Tonbo has solidified its position as India’s largest manufacturer of thermal imaging systems for government and defence agencies (FY24–FY26) and the nation’s largest exporter of thermal imaging systems by volume. Crucially, its products are developed using fully owned intellectual property and are free from ITAR (International Traffic in Arms Regulations) restrictions, facilitating seamless global exports across 24 countries with over 28,000 field-deployed systems. As an approved supplier under India’s IDDM framework, the company aligns with ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives. As of June 30, 2026, Tonbo maintained a robust team of 339 permanent employees.