SME
IPO ·
BSE SME
TNA Solutions Ltd
Listed
Indore maker of home textiles such as sheets, towels and comforters for global retailers, plus its own Ambra Linens brand.
Issue details
Price band
₹66 – ₹70
Face value
₹10
Lot size
2,000 shares
Minimum investment
₹2,80,000
Issue size
₹37.86 Cr
Fresh issue
₹37.86 Cr
Offer for sale
—
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
30 Sep 2026
Closes
6 Oct 2026
UPI mandate cut-off
5:00 PM on 6 Oct 2026
Allotment
7 Oct 2026
Refunds
8 Oct 2026
Shares in demat
8 Oct 2026
Listing
9 Oct 2026
Subscription and listing
Subscription
55.20x
Listing price
₹56
Registrar
Maashitla Securities Pvt Ltd
Lead manager
Credora Partners Pvt Ltd
Subscription by category
QIB (Ex Anchor)
35.64x
NII *
102.14x
bNII (> ₹10L)
114.91x
sNII (< ₹10L)
76.59x
Individual Investor
46.17x
Total
55.20x
Total applications
27,747
Anchor investors
Amount raised
₹10.75 Cr
Bid date
29 Sep 2026
50% lock-in ends
7 Nov 2026
Rest lock-in ends
6 Jan 2027
Listing day
Issue price
₹70
Open
₹56.00
High
₹58.80
Low
₹53.20
Day close
₹58.80
Listing gain at open
-20.00%
Issue structure
Shares reserved per category and share of the total issue
QIB
25,62,000
47.37%
Anchor Investor
15,36,000
28.40%
QIB (Ex. Anchor)
10,26,000
18.97%
NII
7,74,000
14.31%
bNII > ₹10L
5,16,000
9.54%
sNII < ₹10L
2,58,000
4.77%
Retail
18,00,000
33.28%
Market Maker
2,72,000
5.03%
Total
54,08,000
100.00%
Finaccle’s quick read
Neutral
Income up 31% and PAT up 44% in FY26 with ROE of 32.60% and post-issue P/E of 14.89, but debt/equity of 1.29 after borrowings rose from ₹25.73 Cr to ₹46.29 Cr.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
TNA Solutions manufactures home textiles such as sheet sets, pillow covers, towels, comforters, quilts and mattress protectors at Indore, Madhya Pradesh. It mainly supplies global retailers, importers and domestic brands on a B2B basis, and also sells directly under its own Ambra Linens brand. Total income reached about ₹110 Cr in FY26.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
32.60%
ROCE
42.84%
Debt / equity
1.29
PAT margin
9.16%
P/E post issue
14.89
Market cap
₹142.86 Cr
Use of IPO money
Capex for civil construction and plant & machinery
₹6.76 Cr
Working capital
₹20.00 Cr
General corporate purposes
₹5.63 Cr
Issue expenses
₹5.47 Cr
Strengths
✓
Revenue up 31% and PAT up 44% in FY26
✓
Export-oriented, diversified home textile range
✓
Modest post-issue P/E of 14.89
✓
Entirely fresh issue
Risks to watch
!
Debt/equity of 1.29; borrowings nearly doubled in FY26
!
Young company incorporated in 2021
!
Small revenue base of about ₹110 Cr
!
Dependence on overseas retail buyers
!
Large working capital needs
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.