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Tonbo Imaging IPO: 73% Premium Ahead of Debut
21 Oct
Summary
- Tonbo Imaging IPO allotment status expected today, Oct 21.
- IPO subscribed 135.9 times, indicating strong investor interest.
- Grey market suggests a 73% premium, implying a listing price of Rs 1,213.
The allotment status for Tonbo Imaging India's initial public offering (IPO) is anticipated today, October 21. The company's shares are trading at a notable grey market premium (GMP) of approximately 73% in anticipation of their stock market debut on October 23. The Rs 852.18-crore IPO, which concluded on October 19, saw overwhelming demand, with bids for 1,15,86,91,464 shares against the 85,26,033 shares available, resulting in a subscription rate of 135.9 times.
Currently, grey market indications suggest a premium of around Rs 513 per share. This implies a potential listing price of Rs 1,213 against the IPO's upper price band of Rs 700, representing a 73.29% gain. Investors can check their allotment status on the BSE or NSE websites, or through the IPO registrar, KFin Technologies, once the basis of allotment is finalized. Refunds and share credits are scheduled for October 22, with listings on October 23.
The IPO garnered substantial interest across all investor categories. Qualified Institutional Buyers subscribed 293.56 times, Non-Institutional Investors 170.94 times, and Retail Individual Investors 31.06 times. The IPO, priced between Rs 665-700 per share, comprised an offer for sale (OFS) of 1,21,74,046 equity shares, with no fresh issue component. Tonbo Imaging India, established in 2003, specializes in electro-optic and electronic systems for defence applications.
