Tonbo Imaging India shares up 17%, jumps 90% from IPO price band | Buy, sell or hold?

Tonbo Imaging India shares jumped over 17% on Monday, 26 October, extending their strong post-listing rally. The stock made a stellar debut on 23 October, listing at ₹1,160 on the NSE, a 65.71% premium over its IPO price of ₹700 per share. On the BSE, it debuted at ₹1,162, marking a 66% premium.

The stock has now climbed around 90% above its issue price, reflecting strong investor interest following its market debut. After listing, Tonbo Imaging India's market capitalisation stood at around ₹7,111 crore on the BSE.

According to BSE data, PRB Securities Pvt. Ltd. bought 3,71,195 shares at ₹1,117.10 apiece and sold 26,537 shares at ₹1,081.90 on 23 October. Meanwhile, Irage Broking Services LLP bought 5,09,569 shares at ₹1,125.95 apiece and sold 3,10,631 shares at ₹1,099.43.

Mahesh M. Ojha, Vice President of Research and Business Development at Kantilal Chhaganlal Securities Pvt. Ltd., said investors who received an allotment in the IPO could consider booking partial profits on listing gains and holding the remaining shares for the long term, given strong product demand, a favourable sector outlook and the company's long-term growth potential.

Another analyst said investors who secured an IPO allotment could hold the shares for the long term. Those who missed the issue could consider entering on any post-listing correction.

The IPO was priced in the range of ₹665–700 per share and comprised an offer for sale (OFS) of 1.22 crore equity shares by promoters and existing shareholders. As the issue was entirely an OFS, Tonbo Imaging will not receive any proceeds from the public offering.

Tonbo Imaging designs and manufactures sensing, processing, communication and guidance systems for surveillance, reconnaissance, targeting and control applications. Its product portfolio includes thermal imaging cores, weapon sights, targeting systems, missile seekers, fire control systems and missile guidance systems.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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