TNA Solutions IPO
TNA Solutions IPO is a SME book-built issue of ₹37.86 crore, consisting entirely of a Fresh Issue of 54.08 lakh equity shares with no Offer for Sale. The price band is ₹66 to ₹70 per share, with a lot size of 2,000 shares. The IPO opens on September 30, 2
TNA Solutions IPO Details
TNA Solutions IPO bidding starts from Sep 30, 2026 and ends on Oct 6, 2026. The allotment for TNA Solutions IPO is expected to be finalized on Oct 7, 2026. TNA Solutions IPO will list on BSE SME on Oct 9, 2026.
TNA Solutions IPO GMP
TNA Solutions IPO GMP is currently ₹0 as of September 25, 2026. The grey market premium is unofficial and can change before the IPO listing. Investors should not treat GMP as a guarantee of the actual listing price.
TNA Solutions IPO Timeline (Tentative)
TNA Solutions IPO opens for subscription on September 30, 2026, and closes on October 6, 2026. The basis of allotment is expected to be finalized on October 7, refunds are expected to be initiated on October 8, and shares are expected to be credited to successful applicants' Demat accounts on the same day. The shares are scheduled to be listed on BSE SME on October 9, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wed, Sep 30, 2026 |
| IPO Close Date | Tue, Oct 6, 2026 |
| Basis of Allotment | Wed, Oct 7, 2026 |
| Initiation of Refunds | Thu, Oct 8, 2026 |
| Credit of Shares to Demat | Thu, Oct 8, 2026 |
| Listing Date | Fri, Oct 9, 2026 |
| IPO Opens | September 30, 2026 |
| IPO Closes | October 6, 2026 |
| Basis of Allotment | October 7, 2026 |
| Refund Initiation | October 8, 2026 |
| Credit of Shares to Demat | October 8, 2026 |
| Listing Date | October 9, 2026 |
TNA Solutions IPO Lot Size
The TNA Solutions IPO lot size is 2,000 shares. At the upper price band of ₹70 per share, one lot requires an investment of ₹1,40,000. Retail investors need to apply for a minimum of 2 lots, or 4,000 shares, amounting to ₹2,80,000. HNI investors can apply for a minimum of 3 lots, or 6,000 shares, amounting to ₹4,20,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,80,000 |
| Retail (Max) | 2 | 4,000 | ₹2,80,000 |
| S-HNI (Min) | 3 | 6,000 | ₹4,20,000 |
| S-HNI (Max) | 7 | 14,000 | ₹9,80,000 |
| B-HNI (Min) | 8 | 16,000 | ₹11,20,000 |
TNA Solutions IPO Reservation
TNA Solutions IPO comprises a total issue size of 54,08,000 shares. Out of which, 25,64,000 (49.92%) are allocated to QIB, 7,74,000 (15.07%) allocated to NII and 17,98,000 (35.01%) allocated to RII.
TNA Solutions IPO Subscription
TNA Solutions IPO subscription details will be updated after bidding begins on September 30, 2026. The issue is scheduled to remain open for subscription until October 6, 2026.
| Category | Subscription (times) |
|---|---|
| QIB | N.A. |
| NII | N.A. |
| RII | N.A. |
| Total | N.A. |
About TNA Solutions
TNA Solutions Limited was incorporated in 2021 and is engaged in the manufacturing of home furnishing and home textile products for domestic and international customers. The company operates from its manufacturing facility in Indore, Madhya Pradesh, and offers products including sheet sets, pillow shells and covers, towels, comforters, quilts, dohars and mattress protectors. Its product portfolio is designed to cater to the requirements of retailers, importers and domestic brands.
The company primarily operates through a business-to-business (B2B) manufacturing model, where it supplies home textile products to customers under their respective brands or specified labels. It also has a business-to-consumer (B2C) presence through e-commerce marketplaces, wholesalers and retailers. The company launched its own brand, Ambra Linens, in 2022 and has expanded its direct-to-consumer presence through its own website.
TNA Solutions follows a manufacturing model under which it procures greige fabric from weavers and finished or processed fabric from mills, processing houses and stockists. Third-party processing houses undertake activities such as weaving, dyeing and printing, while the company undertakes cutting, stitching, embroidery, finishing, quality assurance, packaging and dispatch at its Indore facility. The company also uses technology-enabled processes and multi-stage quality control systems to support production and delivery requirements.
The company has an export-oriented business with customers across international markets and a presence across domestic sales channels. As of July 31, 2026, the company had 193 employees on payroll and 66 contractual employees, with personnel engaged across production, planning, quality assurance, warehouse and stores, and other operational and support functions.
Strengths
- Diversified Home Textile Product Portfolio.
- Multi-Stage In-House Quality Control System.
- Technology-Enabled and Integrated Operations.
- Experienced and Hands-On Promoter Management.
- Geographically Diversified and Export-Oriented Revenue Base.
Risks to Consider
- The company operates in a competitive home textile and furnishing industry.
- Its business is exposed to fluctuations in raw material prices and operating costs.
- The company depends on third-party processing houses for certain manufacturing activities.
- The business is exposed to changes in domestic and international demand for home textile products.
- The company has significant working capital requirements associated with its manufacturing and sales operations.
TNA Solutions Financials (₹ Cr)
TNA Solutions reported strong growth in its financial performance over the last three financial years. Total income increased from ₹36.32 crore in FY2024 to ₹84.13 crore in FY2025 and ₹110.45 crore in FY2026. Profit after tax increased from ₹2.69 crore in FY2024 to ₹6.66 crore in FY2025 and ₹9.58 crore in FY2026.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2026 | ₹110.45 Cr | ₹9.58 Cr | ₹94.21 Cr | ₹35.94 Cr |
| FY2025 | ₹84.13 Cr | ₹6.66 Cr | ₹57.47 Cr | ₹22.86 Cr |
| FY2024 | ₹36.32 Cr | ₹2.69 Cr | ₹24.33 Cr | ₹4.98 Cr |
KPIs & Valuation
At the IPO price band of ₹66–₹70, TNA Solutions is valued at approximately 10.33x–10.95x FY2026 earnings on a pre-issue basis. Its pre-IPO EPS is ₹6.39, while post-IPO EPS is ₹4.70. The company reported a 32.60% ROE, 42.84% ROCE, 26.67% RoNW and 12.12% EBITDA Margin for FY2026. Its NAV was ₹119.80 per share.
Objects of the Issue
The ₹37.86 crore IPO is a 100% Fresh Issue of 54.08 lakh equity shares. The company proposes to use the net proceeds towards capital expenditure for civil construction of a new manufacturing unit and purchase of plant and machinery, funding working capital requirements and general corporate purposes.
- The company proposes to utilise the IPO proceeds for:
- Funding of capital expenditure requirement towards civil construction of the new manufacturing unit and purchase of plant and machinery.
- Funding of Working Capital Requirements.
- General Corporate Purposes.
Promoters, Lead Managers & Registrar
TNA Solutions Limited is promoted by Ambuj Jain, Ayush Jain and Tanu Jain. Credora Partners Pvt. Ltd. is the Book Running Lead Manager to the issue and Maashitla Securities Pvt. Ltd. is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Maashitla Securities Pvt. Ltd. |
|---|---|
| Phone | 011-45121795 |
| investor.ipo@maashitla.com | |
| Website | https://maashitla.com/allotment-status/public-issues |
TNA Solutions IPO Review
TNA Solutions operates in the home textile manufacturing segment and offers a diversified portfolio of products such as bedsheets, pillow covers, towels, comforters, quilts, dohars and mattress protectors. The company serves domestic and international customers through its B2B manufacturing operations while also developing its B2C presence through Ambra Linens and online sales channels.
The company's financial performance has improved over the last three financial years. Total income increased from ₹36.32 crore in FY2024 to ₹84.13 crore in FY2025 and ₹110.45 crore in FY2026, while profit after tax increased from ₹2.69 crore in FY2024 to ₹6.66 crore in FY2025 and ₹9.58 crore in FY2026.
A key objective of the IPO is to fund the civil construction of a new manufacturing unit and purchase plant and machinery, along with meeting working capital requirements. The proposed capital expenditure may support the company's manufacturing capacity and future business requirements, while the working capital allocation is relevant to the company's growing scale of operations.
However, investors should consider the competitive nature of the home textile industry, dependence on raw material and processing costs, working capital requirements and exposure to domestic and international demand. The IPO valuation at the upper price band also needs to be considered alongside the company's earnings, post-issue EPS and other valuation parameters.
How to Apply
TNA Solutions IPO applications can be made through ASBA or UPI. The IPO opens on September 30, 2026 and closes on October 6, 2026. The minimum application is 2 lots of 2,000 shares each, requiring ₹2,80,000 at the upper price band of ₹70.
Through UPI
- Log in to your stockbroker app/website.
- Go to the IPO section.
- Select TNA Solutions IPO.
- Enter the number of lots you want to apply for.
- Select the bid price. Retail investors can generally choose Cut-off when available.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI app when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to the company's DRHP, RHP and other offer documents for detailed information about the business, financial performance, risk factors, IPO structure and utilisation of the issue proceeds. The company's investor-relations section also provides IPO-related documents and financial information.
Last updated Sep 25, 2026.