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IPO Open

Wed, Sep 30, 2026

IPO Close

Tue, Oct 6, 2026

Price Band

₹66 to ₹70

Market Cap*

₹142.86 Cr * on Upper Price

IPO Details

IPO Date 30 Sep to 6 Oct, 2026
Listing Date Fri, Oct 9, 2026T
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
  • Allotment
    Wed, Oct 7, 2026
  • Credit of Shares
    Thu, Oct 8, 2026
  • IPO Close
    Tue, Oct 6, 2026
  • Refund
    Thu, Oct 8, 2026
  • Listing
    Fri, Oct 9, 2026

Issue Reservation

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 25,62,000 (49.88%) are allocated to QIB, 7,74,000 (15.07%) allocated to NII 18,00,000 (35.05%) allocated to RII.

Investor Category Shares % of Net Issue % of Total Issue
QIB 25,62,000 49.88% 47.37%
  − Anchor Investor 15,36,000 28.40%
  − 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 18,00,000 35.05% 33.28%
Firm Reservations
Market Maker 2,72,000 5.03%
Total 54,08,000 100.00% 100.00%

IPO Lot Size

Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.

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

IPO Anchor Investors

TNA Solutions IPO raises ₹10.75 crore from anchor investors. TNA Solutions IPO Anchor bid date is September 29, 2026.
📝 Anchor Investors Letter (PDF)

Bid Date Tue, Sep 29, 2026
Shares Offered 15,36,000
Anchor Portion (₹ Cr.) 10.75
Anchor lock-in period end date for 50% shares (30 Days) Fri, Nov 6, 2026
Anchor lock-in period end date for remaining shares (90 Days) Tue, Jan 5, 2027

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)

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.   (Amount in ₹ Crore)

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

Recently Listed IPOs in Other Textile Products

Company Issue Type Issue Size Issue Price PE Ratio Listing Day Close Listing Gain/Loss % LTP
Vivekanand Cotspin Ltd. SME ₹22.20 Cr ₹37 16.3 ₹39.90 +7.84% ₹41.89
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% ₹59.45

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # 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
    38.00
  • 2 Funding of Working Capital Requirements
    41.00
  • 3 General Corporate Purposes
    6.27

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
P/B (x) 0.58

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
  • 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

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 Subscription Status

The TNA Solutions IPO is subscribed 0.03 times on September 30, 2026 11:13:44 AM (Day 1). The public issue subscribed 0.05 times in the individual investors category, 0.00 times in the QIB category, and 0.01 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category Subscription (x) Shares Offered Shares bid for Total Applications
QIB (Ex Anchor) 0.00 10,26,000 0 0
NII* 0.01 7,74,000 6,000 0
    bNII (> ₹10L) 0.00 5,16,000 0
    sNII (< ₹10L) 0.02 2,58,000 6,000
Individual Investor 0.05 18,00,000 88,000 0
Total 0.03 36,00,000 94,000 24

Total Applications: 24

*Market Maker portion is not included to NII/HNI.

IPO Registrar

Maashitla Securities Pvt.Ltd.

IPO Lead Manager(s)

  1. Credora Partners Pvt.Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

TNA Solutions Ltd. Address
Survey No. 403/5
Sonvay, Tehsil Mhow
Rao
Indore, Madhya Pradesh, 453331

IPO FAQs

TNA Solutions IPO is a SME IPO of 54,08,000 equity shares of the face value of ₹10 aggregating up to ₹38 Crores. The issue is priced at ₹66 to ₹70. The minimum order quantity is 2000.

The IPO opens on Wed, Sep 30, 2026, and closes on Tue, Oct 6, 2026.

Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Angel One customers can apply online in TNA Solutions IPO using UPI as a payment gateway. Angel One customers can apply in TNA Solutions IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in TNA Solutions IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘TNA Solutions IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The TNA Solutions IPO opens on Wed, Sep 30, 2026 and closes on Tue, Oct 6, 2026.

TNA Solutions IPO lot size is 2000, and the minimum amount required for application is ₹2,80,000, with 2 lots being the minimum application size.

You can apply in TNA Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for TNA Solutions IPO will be done on Wednesday, October 7, 2026, and the allotted shares will be credited to your demat account by Thu, Oct 8, 2026. Check the TNA Solutions IPO allotment status.

The TNA Solutions IPO listing date is not yet announced. The tentative date of listing is Fri, Oct 9, 2026.

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