# Tonbo Imaging sets IPO price band at ₹665 to 700, opens 15 October 2026-10-12T05:32:27+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 2 independent outlets Defence electronics maker Tonbo Imaging India has fixed a price band of ₹665 to 700 per share for its ₹852-crore initial public offering. The issue will open for public subscription on 15 October and close on 19 October, the company said on 12 October. The IPO is a pure Offer for Sale of 1.22 crore equity shares by promoters and existing investors, with no fresh issue component. Promoters Arvind Kondangi Lakshmikumar, Ankit Kumar and Cecilia D'Souza, along with other selling shareholders including Vinimaya Advisory LLP and Artiman Partners LLC, will offload shares. The company will not receive any proceeds from the share sale. Founded in 2003, Tonbo makes thermal imaging cores, weapon sights, targeting systems and missile seekers for global defence forces and law enforcement agencies. JM Financial and IIFL Capital Services are the book-running lead managers. ## Indian Opinion Analysis Both outlets carry essentially identical copy on Tonbo Imaging's IPO, which is standard wire-style reporting with no discernible slant. Business Line and the Economic Times lead with the same price band, issue size and dates, name the same promoters and lead managers, and include identical product descriptions. The coverage is uniform straight reporting. The key point for investors is the OFS structure: the company will receive no proceeds, so the sole event to watch is the subscription closing on 19 October. ## Coverage Coverage: 2 sources, 2 neutral - thehindubusinessline.com (neutral report) Wire copy, no slant, identical to other source - economictimes.indiatimes.com (neutral report) Wire copy, no slant, identical to other source This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Tags: IIFL Capital Services, JM Financial, KFin Technologies, Tonbo Imaging Canonical: https://indianopinion.org/tonbo-imaging-sets-ipo-price-band-at-rs665-to-700-opens-15-october/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/tonbo-imaging-sets-ipo-price-band-at-rs665-to-700-opens-15-october/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/