Tonbo Imaging IPO Gets A Strong Start, But Does Growth Justify Its Valuation?

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 ₹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, acc