Tonbo Imaging IPO

Latest update · 11 Oct 2026

Tonbo Imaging India IPO: Business Model, Defence Electronics Products and Financial Details Analysed

Discover Tonbo Imaging India IPO details, business model in defence electronics, tactical systems, manufacturing partners, and revenue metrics.

• Tonbo Imaging India Limited specializes in EO/IR defence electronics, designing advanced surveillance, targeting, and guidance systems.
• The product portfolio divides into tactical systems (such as Bloodhound and Spartan) and platform systems (such as Avenger S50 and TRAP missile seekers).
• The company utilizes an asset-light manufacturing model, partnering with Kaynes Technology India Limited and Avalon Technology and Services Private Limited for large-scale production.
• Promoters Arvind Kondangi Lakshmikumar, Ankit Kumar, and Cecilia D'Souza each bring over 21 years of industry experience.
• In FY2026, tactical products generated Rs 211.68 crore while platform products contributed Rs 144.81 crore.
• Geographic focus showed a transition with domestic revenue reaching 93.06% in FY2026 compared to European revenue contributing 65.34% in FY2025.