HBL Power Systems to invest up to Rs 150 cr in defence imaging firm Tonbo

Tonbo India manufactures imaging systems for surveillance, reconnaissance and targeting

HBL Power Systems will invest up to Rs 150 crore in Tonbo Imaging India, an imaging systems specialist, in the form of compulsorily convertible preference shares.

HBL will also make a nominal investment in Tonbo Singapore, spread over three tranches and subject to the fulfillment of certain conditions. Tonbo Imaging India indigenously designs and manufactures imaging systems for surveillance, reconnaissance and targeting. The company said it is a supplier of advanced electro-optics systems in more than 25 countries, including India’s defence and home ministries.

“HBL sees in Tonbo the intellectual property strategy and development capabilities that we have been searching