TNA Solutions IPO was an SME issue of ₹37.86 Cr at a price band of ₹66 – ₹70 per share, open from 30 Sep 2026 to 06 Oct 2026. The shares listed on BSE SME on 09 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined Not financial advice
Subscription Signal
Moderate Interest
0.00x subscribed
Issue Details
Fresh Issue₹37.86 Cr
Offer for Sale (OFS)Nil
Total Issue Size₹37.86 Cr
Face Value₹10
Market Cap (at issue)₹142.86 Cr
Listing ExchangeBSE SME
📅 Open Date30 Sep 2026
🔒 Close Date06 Oct 2026
✂️ Cut-off Price Date06 Oct 2026
🎟️ Allotment Date07 Oct 2026
💸 Refund Initiation08 Oct 2026
📂 Demat Credit08 Oct 2026
📈 Listing Date09 Oct 2026
Objects of the Issue
💰 New manufacturing unit (building and machinery) — ₹6.76 Cr
💰 Working capital — ₹20 Cr
💰 General corporate purposes
About the Company
TNA Solutions, set up in Indore in September 2021 (first as an LLP, converted to a public company in June 2024), turns processed fabric into finished home furnishing products such as sheet sets, pillow covers, towels, comforters and quilts. It mainly supplies overseas retailers on a B2B basis and also sells under its own Ambra Linens brand online. Cutting, stitching, embroidery and finishing are done in-house at its Indore unit, while weaving and dyeing are outsourced.
Strengths
✅ Export-focused business with a geographically spread customer base
✅ Own consumer brand, Ambra Linens, alongside B2B supply
✅ Income roughly tripled between FY24 and FY26
✅ Entire issue is fresh capital going into a new unit and working capital
Risk Factors
⚠️ Short operating history — started in 2021
⚠️ Borrowings of ₹46 Cr were higher than net worth of ₹36 Cr in FY26
⚠️ Depends on overseas retail demand and currency movements
⚠️ Weaving and dyeing are outsourced, so quality and supply depend on vendors
Subscription Status
Not yet open
QIB: —
NII: —
RII: —
GMP Trend
Day-wise Subscription
Day
QIB
NII
RII
Overall
Day 1
—
—
—
0.00x
Day 2
—
—
—
0.00x
Day 3
—
—
—
0.00x
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for SME IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
68.69%Pre-IPO
→ -18.2%
50.48%Post-IPO
68.69%
50.48%
Founders & Leadership
AJ
Ambuj Jain
Promoter
Promoter of the company
AJ
Ayush Jain
Promoter
Promoter of the company
IPO Timeline
✓
Open Date30 Sep 2026
✓
Close Date06 Oct 2026
✓
Allotment Date07 Oct 2026
✓
Listing Date09 Oct 2026
Key Financials
Revenue₹110.45 Cr
PAT₹9.58 Cr
EPS₹6.41
P/E Ratio10.92x
ROE32.60%
Market Cap₹142.86 Cr
Company Financials (Restated Consolidated)
Period Ended
FY26
FY25
FY24
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
Total Borrowing
46.29
25.73
11.38
Amount in ₹ Crore
Key Performance Indicators (KPI)
KPI
FY26
FY25
ROE (%)
26.66
29.13
EBITDA Margin (%)
11.48
12.20
Debt / Equity
1.29
1.13
Net Worth (Rs. Cr)
35.94
22.86
Metric
Pre IPO
Post IPO
EPS
₹6.41
—
P/E (x)
10.92x
—
ROE (%)
32.60%
—
Promoter Holding
68.69%
50.48%
Market Cap
₹142.86 Cr
IPO Registrar
Maashitla Securities
TNA Solutions IPO FAQs
TNA Solutions IPO is an SME IPO with an issue size of ₹37.86 Cr at a price band of ₹66 – ₹70. Minimum lot size is 2000 shares and the minimum application is 2 lots (minimum investment ~₹2,80,000). Opened on 30 Sep 2026 and closed on 06 Oct 2026. Listed on BSE SME. Registrar: Maashitla Securities.
Apply through ASBA via your bank's net banking, or via UPI through Zerodha, Groww, Upstox, Angel One, or your broker's app. Select the IPO, choose lot quantity, and approve the UPI mandate or ASBA block.
Opened on 30 Sep 2026 and closed on 06 Oct 2026. Cut-off price date: 06 Oct 2026.
Lot size is 2000 shares and the minimum application is 2 lots. At the upper price band of ₹70, minimum investment is approximately ₹2,80,000.
Allotment date is 07 Oct 2026. Refund initiation and demat credit were scheduled for 08 Oct 2026.
Listed on 09 Oct 2026 on BSE SME.
GMP is an unofficial grey-market indicator and can change at any time. Figures are compiled from publicly available sources for information only — this is not investment advice.Official references: SEBI · NSE · BSE
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