TNA Solutions IPO – Company Analysis
TNA Solutions IPO is a book build issue of Rs. 37.86 Cr (0.54 Cr shares) by TNA Solutions Limited, which is 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.
TNA Solutions IPO Details
The TNA Solutions IPO date is 30 Sep 2026; its initial public offering will end on 06 Oct, IPO allotment on Oct 07 and refund initiation on Oct 08, 2026. The Rs. 37.86 crore new SME IPO comprises a wholly a fresh issue of 54.08 lakh shares.
The TNA Solutions IPO listing date (expected) might be Friday, Oct 09, 2026, and the listing on the BSE and SME.
TNA Solutions IPO price band is Rs. 66 to Rs. 70.
|
Events |
Date |
|
IPO Opening Date |
Sep 30, 2026 |
|
IPO Closing Date |
Oct 06, 2026 |
|
IPO Allotment Date |
Oct 07, 2026 |
|
Refund Initiation |
Oct 08, 2026 |
|
IPO Listing Date |
Oct 09, 2026 |
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Company Financial
(Amount in Cr)
|
Period |
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 & Surplus |
32.94 |
20.01 |
3.07 |
Cash Flows
(Amount in Lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
1,847.27 |
1,725.80 |
856.98 |
|
Net Cash Flow Investing Activities |
(556.98) |
(266.09) |
(67.88) |
|
Net Cash Flow Financing Activities |
2,086.18 |
2,307.33 |
911.69 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The Company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Funding of capital expenditure requirements towards civil construction of the new manufacturing unit and purchase of plant and machinery. ~ Rs. 6.76 Cr.
-
Funding of Working Capital Requirements. ~ Rs. 20 Cr.
-
General Corporate Purposes.
Listed Peers of TNA Solutions Ltd.
|
Name of the Company |
Face value (₹) |
Basic EPS (₹) |
P/E (x) |
|
VTM Limited |
10 |
1.11 |
41.84 |
|
Faze Three Limited |
10 |
11.53 |
37.35 |
Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
32.60% |
|
ROCE |
42.84% |
|
Debt/Equity |
1.29 |
|
RoNW |
26.67% |
|
PAT Margin |
9.16% |
|
EBITDA Margin |
12.12% |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 6.41 from the last year, the resulting P/E ratio is 10.92x.
|
Valuation Metric |
Pre IPO |
Post IPO |
|
EPS (₹) |
6.39 |
4.70 |
|
P/E (x) |
10.95 |
14.89 |
Explore the Acme India Industries IPO.
IPO's Strengths
-
Diversified Home Textile Product Portfolio.
-
Multi-Stage In-House Quality Control System.
-
Technology-Enabled and Integrated Operations.
-
Experienced and Hands-On Promoter Management.
IPO's Weaknesses
-
Sheeting products such as flat sheets, fitted sheets and duvet sets generated ₹5,328.72 lakhs, or 50.95% of revenue from operations, in Fiscal 2026. A drop in demand for these products or a failure to keep up with changing consumer preferences could lead to lower sales.
-
All manufacturing takes place at the company's facility in Indore, Madhya Pradesh. Equipment breakdowns, accidents, natural disasters, regulatory action, or labour disputes could force a slowdown or shutdown
-
B2B manufacturing for domestic and international brands contributed 99.60% of revenue from operations in Fiscal 2026, while B2C sales contributed only 0.40%. Lower orders could hurt revenue.
TNA Solutions IPO GMP
TNA Solutions IPO GMP today is Rs. 0 as of 08 October 2026, while writing this information.
GMP is an unofficial indicator that changes daily with demand and subscription, so track the live IPO GMP today page for updated numbers across all mainboard and SME issues.
Since this is an SME issue, its premium can move sharply before listing. You can compare it with the SME IPO GMP and subscription status of other ongoing issues, or see how similar issues are priced in the grey market, like the Dove Soft IPO and Vans Electroengineerings IPO.
TNA Solutions IPO Summary
|
IPO Opening & Closing Date |
30 Sep, 2026 to 06 Oct, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 66 to Rs. 70 per Share. |
|
Lot Size |
2000 Shares |
|
Issue Size |
54,08,000 Shares (Rs. 38 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
51,36,000 Shares (Rs. 36 Cr) |
|
Market Makers |
2,72,000 Shares (Rs. 2 Cr) |
|
Issue Type |
Bookbuild Issue |
|
Registrar |
Maashitla Securities Pvt. Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,80,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (6000 Shares) for Rs. 4,20,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
TNA Solutions IPO Allotment Status
To check the TNA Solutions IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management
-
Ambuj Jain
-
Ayush Jain
-
Tanu Jain
|
Pre-Issue Promoter Shareholding |
68.69% |
|
Post-Issue Promoter Shareholding |
50.48% |
IPO Lead Managers
- Credora Partners Pvt. Ltd.
Dividend Policy
The company has not paid a dividend in any FY.
Conclusion
TNA Solutions IPO offers exposure to a growing home textile manufacturer with strong FY2026 profitability, healthy ROE/ROCE, and expanding manufacturing capacity. The company benefits from a diversified product portfolio and export-oriented B2B model, though high dependence on sheeting products, a single manufacturing facility, and concentrated B2B revenue remain key risks.
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Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
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