New Delhi, Oct. 13 -- Tonbo Imaging India, a defence electronics maker, has set a price band of Rs.665-700 per share for its Rs.852 crore (around $88 million) initial public offering (IPO), showed its red herring prospectus (RHP) filed on Monday.

At the upper end, the company would be valued at around Rs.4,010 crore (around $420 million).

The issue is entirely an offer for sale (OFS) of 12.2 million equity shares by promoters and existing investors, with no fresh issue component. This means that there will be no fresh capital infusion into the company.

Promoters Arvind Kondangi Lakshmikumar, Ankit Kumar and Cecilia D'Souza are partially selling their holdings in the company, as part of Tonbo Imaging's promoter group, Vinimaya Advisory ...