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New Delhi, Oct 15 (PTI) The initial public offer of defence electronics maker Tonbo Imaging India Ltd was fully subscribed on the first day of bidding on Thursday.
The Rs 852.18-crore IPO received bids for 3,40,36,590 shares against 85,26,033 shares on offer, translating into 3.99 times subscription, according to NSE data.
The category for non-institutional investors was subscribed 5.93 times; the portion for qualified institutional buyers (QIBs) received 3.92 times subscription. Also, the quota for retail investors received 3.19 times subscription.
Tonbo Imaging India Ltd on Wednesday raised Rs 255.36 crore from anchor investors.
The IPO will 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.
The price range for the offer is Rs 665-700 per share.
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 SUM SUM BAL
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