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The Economic Times
The Economic Times
Business
Ritesh Presswala

Tonbo Imaging India IPO opens for subscription; GMP signals 71% listing gain. Check key details

IPO Surveillance

Tonbo Imaging India’s IPO opened for subscription on Thursday, with the issue commanding a grey market premium (GMP) of 71%. The premium points to strong listing gain expectations in the unofficial grey market, although actual listing performance may differ.

The Bengaluru-based defence technology company is looking to raise Rs 852.18 crore through the public issue. The IPO is entirely an offer for sale (OFS) of 1.22 crore shares, meaning the company will not receive any proceeds from the issue. Instead, the funds raised will go to the selling shareholders.

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