Tonbo Imaging Cofounders Rake In ₹137 Cr From IPO

Tonbo Imaging’s promoters and investors have realised substantial gains from the company’s IPO, which closed earlier this week post witnessing an overwhelming demand from investors. The company’s three cofounders — CEO Arvind Lakshmikumar, CBO Ankit Kumar and chief commercial officer (CCO) Cecilia D’Souza — collectively pocketed ₹137.2 Cr from the defence tech company’s ₹852 Cr IPO. CEO Lakshmikumar raked in ₹80.5 Cr by offloading 11.5 Lakh shares at the upper end of the ₹665-700 price band.