Tonbo Imaging IPO Allotment: 135.9x Subscription, 73% GMP

The Tonbo Imaging IPO allotment was finalised on October 21, closing one of the most heavily subscribed public issues of the year. The Tonbo Imaging IPO allotment follows a subscription of 135.90 times for the Rs 852.18-crore issue of the defence electronics company, with the Tonbo Imaging GMP holding near 73% ahead of the October 23 listing on the BSE and NSE. Investors checked the IPO allotment status through the day.

The issue was open for subscription from October 15 to October 19, with a price band of Rs 665 to Rs 700 per share and a lot size of 21 shares, or a minimum investment of Rs 14,700. The IPO listing date was fixed for October 23 on the BSE and NSE. Bids came in for 1,15,86,91,464 shares against 85,26,033 shares on offer, according to National Stock Exchange data. Total demand reached Rs 81,111.84 crore against Rs 596.82 crore of shares on offer.

Tonbo Imaging IPO allotment: subscription breakdown

Institutional demand led the Tonbo Imaging IPO allotment race. Qualified institutional buyers subscribed 293.56 times their quota, while non-institutional investors bid 170.94 times. Retail investors subscribed 31.07 times, and the employee portion was subscribed about 54 times. In all, the issue drew about 55.25 lakh applications.

The response made Tonbo Imaging one of the standout mainboard IPOs of the season. The issue is managed by JM Financial, and KFin Technologies is the registrar. The Rs 852.18-crore issue drew bids worth Rs 81,111.84 crore across categories.

The application numbers underline how crowded the issue was. Retail investors filed 50,70,638 applications against 2,02,667 reserved slots, an application-wise subscription of 25.02 times. High net-worth applications in the Rs 2-10 lakh bracket were subscribed 135.76 times on an application basis, while bids above Rs 10 lakh were subscribed 36.41 times. Employee applications numbered 23,040 against 14,000 reserved shares.

Tonbo Imaging IPO allotment and the 73% GMP

The Tonbo Imaging GMP put the premium at about Rs 513 per share, according to InvestorGain. Against the upper end of the price band of Rs 700, that implies an indicative listing price of Rs 1,213, or a potential gain of 73.29%. The Financial Express reported the premium at Rs 515, implying a listing near Rs 1,215. The Tonbo Imaging IPO allotment math points to a listing gain of more than Rs 10,000 per lot for allottees if those levels hold.

Market trackers caution that the grey market premium is an unofficial indicator. It fluctuates with market conditions and does not guarantee listing gains, and the actual listing price may differ. Grey market trades are settled privately and are not regulated by the exchanges, and the premium can move sharply in either direction before listing.

The premium moved through the week. Reports put it near Rs 500 earlier in the bidding cycle before it climbed toward Rs 515, and analysts note that grey market levels respond to sentiment rather than fundamentals. A high premium can draw in last-minute applicants, but it has no bearing on where the stock actually opens.

Tonbo Imaging IPO allotment: how to check status

Investors can check the Tonbo Imaging IPO allotment status on the BSE and NSE websites or on the registrar KFin Technologies' IPO status portal. Allotted shares are expected to be credited to demat accounts ahead of the listing, with refunds for unsuccessful applications processed in parallel.

The defence electronics company drew bids across every investor category. With the Tonbo Imaging IPO allotment now done, attention shifts to the IPO listing date and the debut on both exchanges. If the stock opens near the grey market's implied price of about Rs 1,213, allottees would hold a paper gain of more than Rs 10,000 per lot.