India, Oct. 16 -- From the Iran war to rising geopolitical tensions across the globe, conflicts are driving demand for advanced defence technologies, from thermal imaging and missile guidance to systems that can counter drone swarms. Against this backdrop, Tonbo Imaging's Rs.852.18 Cr IPO offers investors a chance to bet on India's growing defence tech sector.

Bengaluru-based defence tech company's IPO remained in strong demand on the second day of bidding, garnering 6.29x subscription by 1:30 PM on October 16, according to BSE data, while its grey market premium (GMP) surged to as high as 71%.

The Bengaluru-based company has fixed its price band at Rs.665-700 per share, valuing it at around Rs.4,010 Cr at the upper end. The IPO closes ...