Can Zetwerk Manufacturing IPO deliver long-term growth for high-risk investors?

Tonbo Imaging, a defence sector company, is set to raise ₹852 crore in its initial public offering (IPO). The company expects to benefit from rising demand for advanced defence technologies. However, it has faced revenue declines due to international order delays and its profit and return on equity have decreased. Valuation metrics indicate a premium compared to industry peers.