{"id":272768,"date":"2026-09-28T09:35:20","date_gmt":"2026-09-28T04:05:20","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=272768"},"modified":"2026-09-28T09:35:20","modified_gmt":"2026-09-28T04:05:20","slug":"tna-solutions-initial-public-offering-review","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/","title":{"rendered":"TNA Solutions IPO Review: Key Details, Company Overview and Financials"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>TNA Solutions IPO price band Rs 66 to Rs 70. Opens 30 Sep, closes 6 Oct 2026. Issue size Rs 37.86 Cr. Lists 9 Oct on BSE SME.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The TNA Solutions IPO is a Rs 37.86 crore bookbuilding SME issue priced between Rs 66 and Rs 70 per share, open for bidding from 30 September to 6 October 2026. The Indore based home textile manufacturer is raising the entire issue as a fresh issue, with no offer for sale. Shares are proposed to list on BSE SME around 9 October 2026, with FY26 profit up 44 percent, though borrowings and receivables rose sharply.<\/p>\n<\/p><\/div>\n<p>The TNA Solutions IPO is a bookbuilding issue consisting entirely of a fresh issue of 54,08,000 equity shares aggregating Rs 37.86 crore, with no offer for sale component. The IPO will open for subscription on 30 September 2026 and close on 6 October 2026. The allotment is expected on 7 October 2026, while the shares are proposed to list on the SME platform of BSE around 9 October 2026.<\/p>\n<p>The TNA Solutions IPO price band is Rs 66 to Rs 70 per share, with a lot size of 2,000 shares. Retail investors must apply for a minimum of 2 lots (4,000 shares), requiring an investment of Rs 2,80,000 at the upper price band.<\/p>\n<p>Credora Partners Pvt. Ltd. is the book-running lead manager for the TNA Solutions IPO, Maashitla Securities Pvt. Ltd. is the registrar, and Pace Stock Broking Services Pvt. Ltd. is the market maker.<\/p>\n<p>For detailed information on the company&#8217;s business, financials, risk factors and the proposed utilisation of proceeds, investors should refer to the TNA Solutions IPO Red Herring Prospectus (RHP) before making an investment decision.<\/p>\n<p style=\"margin-top:24px;\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Company_Overview\" title=\"Company Overview\">Company Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#IPO_Details\" title=\"IPO Details\">IPO Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Industry_Context\" title=\"Industry Context\">Industry Context<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Business_Strengths\" title=\"Business Strengths\">Business Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Business_Risks\" title=\"Business Risks\">Business Risks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Financial_Performance\" title=\"Financial Performance\">Financial Performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#TNA_Solutions_Ltd_%E2%80%93_Financials_Rs_in_Lakh\" title=\"TNA Solutions Ltd. &#8211; Financials (Rs in Lakh)\">TNA Solutions Ltd. &#8211; Financials (Rs in Lakh)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Key_Ratios_and_Metrics\" title=\"Key Ratios and Metrics\">Key Ratios and Metrics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Objects_of_the_Offer\" title=\"Objects of the Offer\">Objects of the Offer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#What_are_the_TNA_Solutions_IPO_dates_and_when_will_it_list\" title=\"What are the TNA Solutions IPO dates, and when will it list?\">What are the TNA Solutions IPO dates, and when will it list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#What_is_the_price_band_and_minimum_investment_for_the_TNA_Solutions_IPO\" title=\"What is the price band and minimum investment for the TNA Solutions IPO?\">What is the price band and minimum investment for the TNA Solutions IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#What_does_TNA_Solutions_Limited_actually_manufacture\" title=\"What does TNA Solutions Limited actually manufacture?\">What does TNA Solutions Limited actually manufacture?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Is_the_TNA_Solutions_IPO_a_fresh_issue_or_does_it_include_an_offer_for_sale\" title=\"Is the TNA Solutions IPO a fresh issue or does it include an offer for sale?\">Is the TNA Solutions IPO a fresh issue or does it include an offer for sale?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#How_has_TNA_Solutions_performed_financially\" title=\"How has TNA Solutions performed financially?\">How has TNA Solutions performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#How_will_TNA_Solutions_use_the_proceeds_from_its_fresh_issue\" title=\"How will TNA Solutions use the proceeds from its fresh issue?\">How will TNA Solutions use the proceeds from its fresh issue?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#What_are_the_main_risks_or_concerns_flagged_for_the_TNA_Solutions_IPO\" title=\"What are the main risks or concerns flagged for the TNA Solutions IPO?\">What are the main risks or concerns flagged for the TNA Solutions IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Who_are_the_lead_manager_and_registrar_for_the_TNA_Solutions_IPO\" title=\"Who are the lead manager and registrar for the TNA Solutions IPO?\">Who are the lead manager and registrar for the TNA Solutions IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/tna-solutions-initial-public-offering-review\/#Is_the_TNA_Solutions_IPO_a_good_investment\" title=\"Is the TNA Solutions IPO a good investment?\">Is the TNA Solutions IPO a good investment?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Company_Overview\"><\/span><strong>Company Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Incorporated in September 2021 and based near Indore, Madhya Pradesh, TNA Solutions Limited manufactures value-added home textile products, including sheet sets, pillow covers, towels, comforters, quilts, dohars and mattress protectors, for domestic and international customers. The company buys greige and finished fabric from weavers, mills and processing houses, and carries out cutting, stitching, embroidery, finishing, quality checks and packaging in-house at its Indore plant.<\/p>\n<p>TNA works mainly on a B2B contract manufacturing basis for global retailers, importers and Indian brands, and sells to consumers under the Ambra Linens brand launched in 2022. Exports contributed 52.03 percent of revenue in FY26 to markets including the US, UAE, South Africa, Israel, Singapore and Hong Kong. The company holds SCAN, GOTS, SEDEX\/SMETA, BCI and OEKO-TEX approvals and had 193 payroll and 66 contractual workers as of 31 July 2026. It is promoted by Ambuj Jain, Ayush Jain and Tanu Jain.<\/p>\n<p><em>Read on for the complete TNA Solutions IPO details, including price band, lot size, listing timeline and the company&#8217;s financial track record.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"IPO_Details\"><\/span><strong>IPO Details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Details<\/th>\n<\/tr>\n<tr>\n<td>IPO Date<\/td>\n<td>30 September to 6 October 2026<\/td>\n<\/tr>\n<tr>\n<td>Allotment<\/td>\n<td>Wed, 7 October 2026<\/td>\n<\/tr>\n<tr>\n<td>Listing Date<\/td>\n<td>Fri, 9 October 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Face Value<\/td>\n<td>Rs 10 per share<\/td>\n<\/tr>\n<tr>\n<td>Price Band<\/td>\n<td>Rs 66 to Rs 70<\/td>\n<\/tr>\n<tr>\n<td>Lot Size<\/td>\n<td>2,000 Shares<\/td>\n<\/tr>\n<tr>\n<td>Issue Type<\/td>\n<td>Bookbuilding IPO (SME)<\/td>\n<\/tr>\n<tr>\n<td>Sale Type<\/td>\n<td>Fresh Issue only (no OFS)<\/td>\n<\/tr>\n<tr>\n<td>Total Issue Size<\/td>\n<td>54,08,000 shares (agg. Rs 37.86 Cr)<\/td>\n<\/tr>\n<tr>\n<td>Offer for Sale<\/td>\n<td>Nil<\/td>\n<\/tr>\n<tr>\n<td>Market Maker<\/td>\n<td>Pace Stock Broking Services Pvt. Ltd.<\/td>\n<\/tr>\n<tr>\n<td>Listing Exchange<\/td>\n<td>BSE SME<\/td>\n<\/tr>\n<\/table>\n<p><em>(Compiled from the RHP\/DRHP and market updates)<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Industry_Context\"><\/span><strong>Industry Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>India is a major exporter of home textiles, and global retailers keep sourcing bed and bath products from Indian manufacturers that meet social and environmental compliance standards.<\/li>\n<li>Certifications such as GOTS, OEKO-TEX, SEDEX\/SMETA and BCI are now practical entry tickets for large retail and importer accounts.<\/li>\n<li>Contract manufacturers earn steady volumes from a few large buyers, but depend on repeat purchase orders and on-time delivery.<\/li>\n<li>The business is working-capital intensive, because fabric must be bought and processed before customers pay.<\/li>\n<li>Consumer brands such as Ambra Linens give manufacturers a way to build direct sales, although this takes time to become material.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Business_Strengths\"><\/span><strong>Business Strengths<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here are the key strengths investors evaluating the TNA Solutions IPO should weigh:<\/p>\n<ul>\n<li>A diversified home textile portfolio covering bed linen, towels and top-of-bed products, with an export-oriented revenue base that reached 52.03 percent of FY26 revenue.<\/li>\n<li>Strong earnings growth, with profit after tax rising from Rs 2.69 crore in FY24 to Rs 6.66 crore in FY25 and Rs 9.58 crore in FY26, and a PAT margin of about 9.16 percent in FY26.<\/li>\n<li>A multi-stage in-house quality control system and a set of global compliance certifications obtained in 2026.<\/li>\n<li>Experienced, hands-on promoter management and a new manufacturing unit planned to add capacity.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><strong>Screen textile and home furnishing stocks on the Univest Screener<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Business_Risks\"><\/span><strong>Business Risks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Alongside these strengths, the TNA Solutions IPO also carries the following business risks:<\/p>\n<ul>\n<li>Borrowings rose to Rs 46.29 crore in FY26 from Rs 25.73 crore in FY25, giving a debt-to-equity ratio of 1.29, and none of the stated proceeds allocations is earmarked for debt repayment.<\/li>\n<li>Operating cash flow was negative at about Rs 18.47 crore in FY26 because receivables and inventory absorbed more cash than operating profit generated.<\/li>\n<li>Customer concentration is very high, with the top 10 customers providing 83.82 percent of FY26 revenue and B2B contributing 99.60 percent of revenue.<\/li>\n<li>Production depends on a single Indore facility, and the company faces competition from established domestic and international textile manufacturers.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Performance\"><\/span><strong>Financial Performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The TNA Solutions IPO comes after three years of rising revenue and profit. Total income was Rs 110.45 crore in FY26 against Rs 84.13 crore in FY25, while profit after tax rose from Rs 6.66 crore to Rs 9.58 crore. Finance costs rose to Rs 4.95 crore in FY26 alongside higher borrowings.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"TNA_Solutions_Ltd_%E2%80%93_Financials_Rs_in_Lakh\"><\/span><strong>TNA Solutions Ltd. &#8211; Financials (Rs in Lakh)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2026<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2025<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2024<\/th>\n<\/tr>\n<tr>\n<td>Total Income<\/td>\n<td>11,045.00<\/td>\n<td>8,413.00<\/td>\n<td>Not separately disclosed<\/td>\n<\/tr>\n<tr>\n<td>Profit After Tax (PAT)<\/td>\n<td>958.00<\/td>\n<td>666.00<\/td>\n<td>269.00<\/td>\n<\/tr>\n<tr>\n<td>Total Borrowings<\/td>\n<td>4,629.00<\/td>\n<td>2,573.00<\/td>\n<td>Not separately disclosed<\/td>\n<\/tr>\n<tr>\n<td>Debt-to-Equity Ratio<\/td>\n<td>1.29<\/td>\n<td>Not separately disclosed<\/td>\n<td>Not separately disclosed<\/td>\n<\/tr>\n<\/table>\n<p><em>Amounts in Rs Lakh unless stated otherwise, compiled from published TNA Solutions IPO disclosures. FY26 revenue from operations was Rs 104.59 crore, with B2B revenue of Rs 104.17 crore and Ambra Linens consumer sales of Rs 42.23 lakh. Refer to the RHP for the complete restated financial statements.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Ratios_and_Metrics\"><\/span><strong>Key Ratios and Metrics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below summarises the key ratios and metrics relevant to the TNA Solutions IPO as of the latest reported period.<\/p>\n<p><em>These ratios offer a quick snapshot of how the TNA Solutions IPO is priced relative to the company&#8217;s profitability and net worth.<\/em><\/p>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">KPI (Mar 31, 2026)<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Value<\/th>\n<\/tr>\n<tr>\n<td>PAT Margin (FY26)<\/td>\n<td>~9.16%<\/td>\n<\/tr>\n<tr>\n<td>Debt-to-Equity Ratio<\/td>\n<td>1.29<\/td>\n<\/tr>\n<tr>\n<td>Exports Share of Revenue (FY26)<\/td>\n<td>52.03%<\/td>\n<\/tr>\n<tr>\n<td>Top 10 Customers Share (FY26)<\/td>\n<td>83.82%<\/td>\n<\/tr>\n<tr>\n<td>Post-Issue P\/E (per tracker)<\/td>\n<td>~10.95x<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Objects_of_the_Offer\"><\/span><strong>Objects of the Offer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The company proposes to utilise the net proceeds from the TNA Solutions IPO towards the following objects.<\/p>\n<ul>\n<li>Capital expenditure for civil construction of a new manufacturing unit and purchase of plant and machinery (Rs 6.76 Cr)<\/li>\n<li>Funding working capital requirements (Rs 20.00 Cr)<\/li>\n<li>General corporate purposes<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the Univest iOS App or Univest Android App to track the TNA Solutions IPO and get daily stock recommendations.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>Here is the bottom line on the TNA Solutions IPO.<\/em><\/p>\n<p>The TNA Solutions IPO reflects an export-oriented home textile manufacturer with rising profitability, international compliance approvals and a planned capacity addition, entirely funded through a fresh issue.<\/p>\n<p>However, rising borrowings, negative operating cash flow, very high customer concentration and reliance on one plant are factors that could affect the investment case for the TNA Solutions IPO.<\/p>\n<p>Overall, investors weighing the TNA Solutions IPO should evaluate the company&#8217;s business model, financial performance, industry outlook, competitive positioning, valuation and risk factors in detail, and carefully review the Red Herring Prospectus (RHP) before making an informed investment decision.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data independently before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<p>Univest does not publish grey market premium figures. Grey market premium is an unofficial and unregulated indicator collected informally outside the stock exchanges. It is not published, verified or endorsed by SEBI, NSE or BSE, can vary widely between trackers, and is not always accurate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_TNA_Solutions_IPO_dates_and_when_will_it_list\"><\/span><strong>What are the TNA Solutions IPO dates, and when will it list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The TNA Solutions IPO opens for subscription on 30 September 2026 and closes on 6 October 2026. The allotment is expected on 7 October 2026, and the shares are tentatively scheduled to list on the SME platform of BSE on 9 October 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_price_band_and_minimum_investment_for_the_TNA_Solutions_IPO\"><\/span><strong>What is the price band and minimum investment for the TNA Solutions IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The price band is Rs 66 to Rs 70 per equity share, with a lot size of 2,000 shares. Retail investors must apply for at least 2 lots, or 4,000 shares, which costs Rs 2,80,000 at the upper price band.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_TNA_Solutions_Limited_actually_manufacture\"><\/span><strong>What does TNA Solutions Limited actually manufacture?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> TNA Solutions makes sheet sets, pillow covers, towels, comforters, quilts, dohars and mattress protectors at its Indore facility, mainly as a contract manufacturer for global retailers, importers and Indian brands, and sells to consumers under the Ambra Linens brand.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_TNA_Solutions_IPO_a_fresh_issue_or_does_it_include_an_offer_for_sale\"><\/span><strong>Is the TNA Solutions IPO a fresh issue or does it include an offer for sale?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The issue is a 100 percent fresh issue of 54,08,000 equity shares with no offer for sale. Subject to issue expenses, all proceeds flow into the company.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_TNA_Solutions_performed_financially\"><\/span><strong>How has TNA Solutions performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Total income rose from Rs 84.13 crore in FY25 to Rs 110.45 crore in FY26, and profit after tax rose from Rs 2.69 crore in FY24 to Rs 6.66 crore in FY25 and Rs 9.58 crore in FY26. Borrowings also rose, from Rs 25.73 crore to Rs 46.29 crore in FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_TNA_Solutions_use_the_proceeds_from_its_fresh_issue\"><\/span><strong>How will TNA Solutions use the proceeds from its fresh issue?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The company plans Rs 20 crore for working capital and Rs 6.76 crore for civil construction of a new manufacturing unit and additional plant and machinery. The balance goes to general corporate purposes, and none of the stated allocations is specifically for debt repayment.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_or_concerns_flagged_for_the_TNA_Solutions_IPO\"><\/span><strong>What are the main risks or concerns flagged for the TNA Solutions IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Borrowings rose faster than net worth, operating cash flow was negative in FY26, the top 10 customers provided 83.82 percent of revenue, and B2B contributed 99.60 percent, so the consumer brand is not yet material. Production also depends on one facility.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_are_the_lead_manager_and_registrar_for_the_TNA_Solutions_IPO\"><\/span><strong>Who are the lead manager and registrar for the TNA Solutions IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Credora Partners Pvt. Ltd. is the book-running lead manager for the TNA Solutions IPO, responsible for structuring and managing the offer process. Maashitla Securities Pvt. Ltd. is the registrar to the issue and will handle the allotment process and crediting of shares to successful applicants&#8217; demat accounts.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_TNA_Solutions_IPO_a_good_investment\"><\/span><strong>Is the TNA Solutions IPO a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> TNA Solutions offers exposure to a fast growing export-oriented home textile manufacturer with improving margins. Rising debt, weak cash conversion and customer concentration call for a careful approach. Investors should study the RHP in detail and assess their own risk appetite before applying.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are the TNA Solutions IPO dates, and when will it list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The TNA Solutions IPO opens for subscription on 30 September 2026 and closes on 6 October 2026. The allotment is expected on 7 October 2026, and the shares are tentatively scheduled to list on the SME platform of BSE on 9 October 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is the price band and minimum investment for the TNA Solutions IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band is Rs 66 to Rs 70 per equity share, with a lot size of 2,000 shares. 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Ltd. is the registrar to the issue and will handle the allotment process and crediting of shares to successful applicants' demat accounts.\"}},{\"@type\":\"Question\",\"name\":\"Is the TNA Solutions IPO a good investment?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"TNA Solutions offers exposure to a fast growing export-oriented home textile manufacturer with improving margins. Rising debt, weak cash conversion and customer concentration call for a careful approach. Investors should study the RHP in detail and assess their own risk appetite before applying.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The TNA Solutions IPO is a Rs 37.86 crore bookbuilding SME issue priced between Rs 66 and Rs 70 per share, open for bidding from 30 September to 6 October 2026. The Indore based home textile manufacturer is raising the entire issue as a fresh issue, with no offer for sale. Shares<\/p>\n","protected":false},"author":29,"featured_media":272765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[5352],"class_list":["post-272768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-sme-ipo"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["272765"],"rank_math_title":["TNA Solutions IPO 2026: Price and Full Review"],"rank_math_description":["TNA Solutions IPO opens 30 Sep to 6 Oct 2026 at Rs 66 to Rs 70. Read the full review of company overview, industry context and financials."],"rank_math_focus_keyword":["TNA Solutions IPO"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/tna-solutions-ipo-review-key-details-company-overview-and-financials.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/272768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=272768"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/272768\/revisions"}],"predecessor-version":[{"id":272770,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/272768\/revisions\/272770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/272765"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=272768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=272768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=272768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}