TNA Solutions IPO
Updated 25 Sept 2026, 6:50 pm.
Minimum investment (Individual investors (IND))
₹2,80,000
2 lots · 4,000 shares at the upper price band
Price band
₹66–70
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹35.95 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹66–70
- Issue size
- ₹35.95 Cr
- Lot size
- 2,000
- Opens
- 30 Sept 2026
- Closes
- 6 Oct 2026
- Allotment
- 7 Oct 2026
- Listing
- 9 Oct 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Maashitla Securities Pvt.Ltd.
- Minimum investment
- ₹2,80,000 (2 lots · 4,000 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Listing at
- BSE SME
- Refunds
- 8 Oct 2026
- Shares credited
- 8 Oct 2026
- Promoter holding
- 68.69% before · 50.48% after
- Lead managers
- Credora Partners Pvt.Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 25 Sept 2026, 2:05 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 30 Sep to 6 Oct, 2026 |
|---|---|
| Listing Date | Fri, Oct 9, 2026 T |
| Face Value | ₹ 10 per share |
| Price Band | ₹66 to ₹70 |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 54,08,000 shares (agg. up to ₹ 38 Cr) |
|---|---|
| Reserved for Market Maker | 2,72,000 shares (agg. up to ₹ 2 Cr) Pace Stock Broking Services Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 51,36,000 shares (agg. up to ₹ 36 Cr) |
| Net Offered to Public | 51,36,000 shares (agg. up to ₹ 36 Cr) |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 2,04,08,000 shares |
IPO Timetable (Tentative)
- IPO Open
- Wed, Sep 30, 2026
- IPO Close
- Tue, Oct 6, 2026
- Allotment
- Wed, Oct 7, 2026
- Refund
- Thu, Oct 8, 2026
- Credit of Shares
- Thu, Oct 8, 2026
- Listing
- Fri, Oct 9, 2026
Issue Reservation
- QIB47.41%
- NII (HNI)14.31%
- Retail33.25%
- Market Maker5.03%
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB | 25,64,000 | 49.92% | 47.41% |
| - Anchor Investor | 15,38,000 | — | 28.44% |
| - QIB (Ex. Anchor) | 10,26,000 | — | 18.97% |
| NII (HNI) | 7,74,000 | 15.07% | 14.31% |
| - bNII > ₹10L | 5,16,000 | — | 9.54% |
| - sNII < ₹10L | 2,58,000 | — | 4.77% |
| Retail | 17,98,000 | 35.01% | 33.25% |
| Firm Reservations | |||
| Market Maker | 2,72,000 | — | 5.03% |
| Total | 54,08,000 | 100.00% | 100.00% |
TNA Solutions IPO comprises a total issue size of 54,08,000 shares. The net offer to the public is 51,36,000 shares, after excluding 2,72,000 shares allotted on a firm basis. Of the Net offer 25,64,000 (49.92%) are allocated to QIB , 7,74,000 (15.07%) allocated to NII 17,98,000 (35.01%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4000 | ₹2,80,000 |
| Individual investors (IND) (Max) | 2 | 4000 | ₹2,80,000 |
| S-HNI (Min) | 3 | 6000 | ₹4,20,000 |
| S-HNI (Max) | 7 | 14000 | ₹9,80,000 |
| B-HNI (Min) | 8 | 16000 | ₹11,20,000 |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
IPO Subscription Details
About TNA Solutions Ltd.
Incorporated in September 2021, TNA Solutions Limited is engaged in the manufacturing of home textile products for domestic and international customers. Its manufacturing facility is located in Indore, Madhya Pradesh, where it converts processed fabrics into finished home furnishing products based on customer specifications. The Company offers a diversified portfolio of home textile products, including sheet sets, pillow shells and covers, towels, and top-of-bed products such as comforters, quilts, dohars and mattress protectors. It primarily operates under a B2B manufacturing model, supplying products to global retailers, importers and domestic brands under their respective brands or specified labels. The Company also operates through B2C channels, including e-commerce marketplaces, wholesalers and retailers, and has its own brand "Ambra Linens", launched in 2022.
The Company follows a focused manufacturing model wherein 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 carries out cutting, stitching, embroidery, finishing, quality assurance, packaging and dispatch at its Indore facility. It launched its own website for Ambra Linens in July 2026, further expanding its direct-to-consumer presence.
The Company has a geographically diversified, export-oriented revenue base and focuses on product quality, manufacturing efficiency and timely delivery. Its operations are supported by technology-enabled processes and a multi-stage quality control system. The Company also benefits from experienced promoter management and capabilities across product development, production planning, sourcing, quality assurance and customer servicing.
As of July 31, 2026, the Company had 193 employees on payroll and 66 contractual employees, with its workforce primarily engaged in production and planning, quality assurance, warehouse and stores, and other operational and support functions.
Competitive 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.
Company Financials (Restated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 94.21 | 57.47 | 24.33 |
| Total Income | 110.45 | 84.13 | 36.32 |
| Profit After Tax | 9.58 | 6.66 | 2.69 |
| EBITDA | 12.68 | 10.26 | 5.13 |
| NET Worth | 35.94 | 22.86 | 4.98 |
| Reserves and Surplus | 32.94 | 20.01 | 3.07 |
| Total Borrowing | 46.29 | 25.73 | 11.38 |
| Amount in ₹ Crore |
TNA Solutions Ltd.'s revenue increased by 31% and profit after tax (PAT) rose by 44% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Other Textile Products
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Panchatv Bharat Ltd. | SME | ₹24.58 Cr | ₹140 | 14.23 | ₹122.55 | -12.46% | ₹122.55 |
| Vinod Texworld Ltd. | SME | ₹42.84 Cr | ₹94 | 10.48 | ₹89.30 | -5.00% | ₹69.25 |
| Ashutosh Fibre Ltd. | SME | ₹56.35 Cr | ₹92 | 9.03 | ₹147.00 | +59.78% | ₹161.10 |
| Fascinate Textiles Ltd. | SME | ₹64.83 Cr | ₹151 | 10.33 | ₹114.80 | -23.97% | ₹58.05 |
| Shreedhar Spinners Ltd. | SME | ₹30.68 Cr | ₹53 | 13.44 | ₹57.10 | +7.74% | ₹170.05 |
| Harikanta Overseas Ltd. | SME | ₹24.30 Cr | ₹91 | 14.66 | ₹75.77 | -16.74% | ₹65.00 |
| Yajur Fibres Ltd. | SME | ₹120.41 Cr | ₹174 | 23.49 | ₹132.25 | -23.99% | ₹40.00 |
| K K Silk Mills Ltd. | SME | ₹28.50 Cr | ₹38 | 12.12 | ₹30.40 | -20.00% | ₹9.90 |
| Game Changers Texfab Ltd. | SME | ₹54.84 Cr | ₹102 | 10.58 | ₹109.35 | +7.21% | ₹106.50 |
| Sihora Industries Ltd. | SME | ₹10.56 Cr | ₹66 | 13.14 | ₹66.50 | +0.76% | ₹54.50 |
| Sonaselection India Ltd. | Mainboard | ₹141.57 Cr | ₹99 | 12.38 | ₹107.42 | +8.51% | ₹107.42 |
| Alpine Texworld Ltd. | Mainboard | ₹126.25 Cr | ₹105 | 12.68 | ₹99.75 | -5.00% | ₹50.65 |
| Kusumgar Ltd. | Mainboard | ₹650.00 Cr | ₹419 | 44.8 | ₹602.80 | +43.87% | ₹620.10 |
| Aastha Spintex Ltd. | Mainboard | ₹170.00 Cr | ₹136 | 18.78 | ₹136.49 | +0.36% | ₹80.80 |
| Shree Ram Twistex Ltd. | Mainboard | ₹110.24 Cr | ₹104 | 38.21 | ₹71.40 | -31.35% | ₹38.38 |
View More »
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure requirement towards civil construction of the new manufacturing unit and purchase of plant and machinery | 6.76 |
| 2 | Funding of Working Capital Requirements | 20.00 |
| 3 | General Corporate Purposes | — |
| Total | 26.76 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 32.60% |
| ROCE | 42.84% |
| Debt/Equity | 1.29 |
| RoNW | 26.67% |
| PAT Margin | 9.16% |
| EBITDA Margin | 12.12% |
| NAV | 119.80 |
| Price to Book Value | 0.58 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 6.39 | 4.70 |
| P/E (x) | 10.95 | 14.89 |
| Market Cap at Offer Price | ₹105.00 Cr. | ₹142.86 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group68.69%
- Public31.31%
Post IPO
- Promoter and Promoter Group50.48%
- Public49.52%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 68.69% | 50.48% |
| Public | 31.31% | 49.52% |
| Total | 100% | 100% |
Company Promoters: Ambuj Jain, Ayush Jain and Tanu Jain.
TNA Solutions IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
Maashitla Securities Pvt.Ltd.
011-45121795
investor.ipo@maashitla.com
IPO Lead Manager(s)
Credora Partners Pvt.Ltd.
Contact Details
TNA Solutions Ltd. Address
Survey No. 403/5
Sonvay, Tehsil Mhow
Rao
Indore, Madhya Pradesh , 453331
7317150314
Info@tnasolutions.co.in
TNA Solutions IPO in the news
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TNA Solutions: common questions
Answered from this issue's own record.