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Tonbo Imaging IPO: Founders and Investors Cash In Big
22 Oct
Summary
- Founders collectively earned ₹137.2 Cr from Tonbo Imaging's IPO.
- Company's FY26 revenue dropped 22.7%, net profit fell to ₹50.8 Cr.
- The IPO was oversubscribed 136 times, closing on October 19.
Tonbo Imaging's recent IPO, which closed on October 19, has resulted in significant financial gains for its co-founders and early investors. The defence technology firm's IPO saw its three co-founders, Arvind Lakshmikumar, Ankit Kumar, and Cecilia D'Souza, collectively earn ₹137.2 Cr by offloading shares. CEO Arvind Lakshmikumar alone secured ₹80.5 Cr from his share sales.
This successful IPO comes as Tonbo Imaging reported a 22.7% year-over-year decline in operating revenue for FY26, dropping to ₹362.6 Cr. The company's net profit also decreased to ₹50.8 Cr in FY26, down from ₹72.8 Cr in FY25. Furthermore, the first quarter of FY27 saw the company reporting ₹36 Cr in operating revenue and a net loss of ₹17.7 Cr.
The IPO itself was a major success, attracting overwhelming demand and closing with a 136x oversubscription. The offer for sale component of up to 1.22 Cr equity shares valued the company at approximately ₹4,009.8 Cr. Early investors, including Artiman, also cashed in, realizing substantial returns on their initial investments.
