# Tonbo Imaging IPO: 71% GMP signals big gain

> Tonbo Imaging India IPO gains 71% listing potential with strong subscription rates.
- Title: Tonbo Imaging IPO: 71% GMP signals big gain · Financialexpress
- Summary: Tonbo Imaging India IPO gains 71% listing potential with strong subscription rates. Tonbo Imaging India's IPO shows 71% potential listing gain with 7.77x…
- Keywords: tonbo imaging india, ipo, gmp, listing gain, defence electronics, sbi securities, icici direct, canara bank securities, nse, bse, business, money
- Source: Financialexpress — https://financialexpress.com/market/ipo-news-tonbo-imaging-ipo-71-gmp-signals-big-gain-brokerage-decode-the-defence-moat-4363088
- Author: Oliviya Kunjumon
- Published: 2026-10-16T11:50:22+00:00
- Read time: 1 min
- Topics: tonbo imaging india, ipo, gmp, listing gain, defence electronics, sbi securities, icici direct, canara bank securities, nse, bse, business, money
## Tonbo Imaging India IPO Details
Tonbo Imaging India's IPO opened on October 15 with a subscription window closing October 19.
## Subscription Rates
Overall subscription reached 7.77x by 5 pm on October 16 with NII at 14.34x and retail at 7.11x.
## Grey Market Premium
GMP stands at Rs 500 indicating 71.43% potential listing gain over issue price.
## Brokerage Ratings
SBI Securities recommends subscribing for long-term investment despite execution concerns.
## SBI Securities Analysis
Company valued at 78.8x FY26 P/E with order book-to-sales ratio of 0.9x.
## ICICI Direct Rating
ICICI Direct assigns subscribe rating citing growth opportunities in defence electronics.
## Canara Bank Securities View
Canara Bank recommends subscribing for long-term investors with high risk tolerance.
## Financial Details
Company raises Rs 852.18 crore through book build with 1.22 crore shares sold by existing shareholders.
## Allotment Timeline
Allotment expected October 21 with listing on NSE and BSE scheduled for October 23.
## Key takeaway

Tonbo Imaging India's IPO shows 71% potential listing gain with 7.77x overall subscription by October 16.