TNA Solutions IPO Date & Timeline
Tentative schedule from the RHP.
TNA Solutions IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (6 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Oct 8, 2026 · 3:45 PM | ₹0 | −₹2 | 0.0% | ₹70 |
| Oct 7, 2026 · 9:00 PM | ₹2 | −₹1 | 2.9% | ₹72 |
| Oct 7, 2026 · 7:30 AM | ₹3 | ₹0 | 4.3% | ₹73 |
| Oct 6, 2026 · 6:00 PM | ₹3 | −₹1 | 4.3% | ₹73 |
| Oct 6, 2026 · 2:30 PM | ₹4 | −₹1 | 5.7% | ₹74 |
| Oct 6, 2026 · 1:30 PM | ₹5 | — | 7.1% | ₹75 |
TNA Solutions IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Individual | Total |
|---|---|---|---|---|---|---|
| Shares offered | 10,26,000 | 5,16,000 | 2,58,000 | 7,74,000 | 18,00,000 | 36,00,000 |
| Day 1 · Sep 30 | 0.00× | 0.06× | 0.19× | 0.10× | 0.46× | 0.25× |
| Day 2 · Oct 1 | 4.77× | 0.61× | 0.21× | 0.48× | 0.64× | 1.78× |
| Day 3 · Oct 5 | 4.77× | 2.53× | 1.81× | 2.29× | 2.42× | 3.06× |
| Day 4 · Oct 6 | 35.64× | 115.44× | 76.59× | 102.49× | 46.17× | 55.28× |
TNA Solutions IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 30 – Oct 6, 2026 |
| Price band | ₹66 – 70 per share |
| Face value | ₹10 per share |
| Lot size | 2,000 shares |
| Total issue size | 54,08,000 shares ₹37.86 Cr |
| Fresh issue | 54,08,000 shares ₹37.86 Cr |
| Issue type | Book Built · SME |
| Listing at | BSE SME |
| Market cap | ≈ ₹142.86 Cr |
| Promoter holding | 68.69% → 50.48% |
| Lead manager | Credora Partners Pvt. Ltd. |
| Market maker | Pace Stock Broking Services Pvt. Ltd. |
| Registrar | Maashitla Securities Pvt. Ltd. |
Offer documents
TNA Solutions IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹70.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 4,000 | ₹2,80,000 |
| Individual (max) | 2 | 4,000 | ₹2,80,000 |
| sHNI (min) | 3 | 6,000 | ₹4,20,000 |
| sHNI (max) | 7 | 14,000 | ₹9,80,000 |
| bHNI (min) | 8 | 16,000 | ₹11,20,000 |
TNA Solutions IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Market maker | 2,72,000 | 5% | — |
| Anchor investors | 15,36,000 | 28.4% | — |
| QIB (ex-anchor) | 10,26,000 | 19% | — |
| NII (HNI) | 7,74,000 | 14.3% | — |
| ↳ bHNI (>₹10L) | 5,16,000 | 9.5% | 86 |
| ↳ sHNI (₹2–10L) | 2,58,000 | 4.8% | 43 |
| Individual investors | 18,00,000 | 33.3% | 450 |
| Total | 54,08,000 | 100% |
TNA Solutions Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 36.32 | 84.13 | 110.45 | +31.3% |
| EBITDA | 5.13 | 10.26 | 12.68 | +23.6% |
| Profit after tax | 2.69 | 6.66 | 9.58 | +43.8% |
| Total assets | 24.33 | 57.47 | 94.21 | +63.9% |
| Net worth | 4.98 | 22.86 | 35.94 | +57.2% |
| Reserves & surplus | 3.07 | 20.01 | 32.94 | +64.6% |
| Total borrowing | 11.38 | 25.73 | 46.29 | +79.9% |
TNA Solutions IPO Valuation & Peer Comparison
At the upper band of ₹70. Peers from the RHP "Basis for Offer Price".
Peer comparison
| Company | P/E | P/B | RoNW |
|---|---|---|---|
| TNA Solutions | 14.9× | — | 26.67% |
| Faze Three | 37.4× | — | 6.00% |
| VTM | 41.8× | — | 5.18% |
About TNA Solutions
Business profile from the RHP.
- 2021Incorporated · Indore, Madhya Pradesh
- Ambra LinensOwn brand, launched 2022
- ₹110.5 CrFY26 revenue
- 193 + 66Staff + contract workers (Jul 31, 2026)
Promoters & holding
Ambuj Jain, Ayush Jain, Tanu Jain
Objects of the issue
Anchor investors
Allotted Sep 29, 2026 · 15,36,000 shares. Lock-in: 50% until Nov 6, 2026, the rest until Jan 5, 2027.
TNA Solutions IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: Revenue has tripled in two years, return ratios are high and the post-issue P/E of ~15× is well below listed textile peers. Against that, margins are thin, borrowings exceed net worth, the company is only five years old in a crowded, export-exposed industry. The issue closed 55.28× subscribed overall (QIBs 35.64×).
- Fast growth: revenue rose from ₹36.3 Cr (FY24) to ₹110.5 Cr (FY26) and profit from ₹2.7 Cr to ₹9.6 Cr.
- High returns on capital (RoE ~33%, RoCE ~43%) for a manufacturing business.
- Post-issue P/E of ~15× is well below the ~37-42× of listed peers Faze Three and VTM.
- Wide home-textile range sold to both domestic and overseas buyers, plus its own brand Ambra Linens and e-commerce sales.
- Part of the proceeds (₹6.76 Cr) goes to a new manufacturing unit, adding capacity.
- Borrowings of ₹46.3 Cr exceed net worth of ₹35.9 Cr (D/E ~1.29) and have roughly quadrupled in two years.
- Thin margins (PAT ~9%, EBITDA ~12%) leave little room if fabric costs or buyer prices move against it.
- Young company (incorporated 2021) in a crowded, fragmented industry; B2B work for others' labels gives little pricing power.
- Export exposure brings currency, tariff and international demand risk, and it relies on third-party fabric suppliers.
- Most of the ₹37.86 Cr raised (₹20 Cr) goes to working capital, not new capacity.
- SME listing: trading can be thin after listing, and applications need at least 2 lots (₹2.8 lakh).
TNA Solutions Listing Performance Updates after Oct 9
We close the loop: issue vs listing price, and how our score compared.
TNA Solutions IPO Allotment Status & Contact Details
Allotment was finalised on Oct 7. Check it with your PAN or application number.
Maashitla Securities Pvt. Ltd.
- Phone
- 011-45121795
- investor.ipo@maashitla.com
- Website
- maashitla.com
TNA Solutions Ltd.
- Address
- Survey No. 403/5, Sonvay, Tehsil Mhow, Rao, Indore, Madhya Pradesh 453331
- Phone
- 7317150314
- Info@tnasolutions.co.in
- Website
- tnasolutions.co.in
TNA Solutions IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is TNA Solutions IPO?
TNA Solutions IPO is a ₹37.86 Cr SME book built issue, entirely a fresh issue. The shares will list on BSE SME.
What is TNA Solutions IPO GMP today?
As of Oct 8 · 3:45 PM IST, the grey market premium is ₹0 (≈0.0%), implying an estimated listing price of about ₹70. The GMP has ranged ₹0 – 5 since Oct 6. GMP is unofficial and not a guarantee of the listing price.
What is the price band of TNA Solutions IPO?
The price band is ₹66 – ₹70 per equity share of face value ₹10.
What is the lot size of TNA Solutions IPO?
The minimum lot is 2,000 shares. Individual investors must apply for exactly 2 lots (4,000 shares).
What is the minimum investment for TNA Solutions IPO?
The minimum individual investment is ₹2,80,000 (4,000 shares at ₹70).
When does TNA Solutions IPO open and close?
The IPO opens on Sep 30, 2026 and closes on Oct 6, 2026.
What is the allotment date of TNA Solutions IPO?
The basis of allotment is finalised on Oct 7, 2026. Refunds and demat credit are expected on Oct 8, 2026.
When will TNA Solutions IPO be listed?
The tentative listing date is Oct 9, 2026 on BSE SME.
What is TNA Solutions IPO subscription status?
At the end of Day 4 (Oct 6 · 5:00 PM IST), the issue was subscribed 55.28× overall — QIB 35.64×, bHNI 115.44×, sHNI 76.59×, Individual 46.17×.
What is the P/E ratio and valuation of TNA Solutions IPO?
At the upper band, the P/E is 10.9× pre-issue and 14.9× post-issue, with a market cap of about ₹142.86 Cr. Listed peers include Faze Three (37.4×) and VTM (41.8×).
Should I apply for TNA Solutions IPO?
IPOSignal scores it 59/100 (Mixed Signal), with data confidence Medium (65%). Revenue has tripled in two years, return ratios are high and the post-issue P/E of ~15× is well below listed textile peers. Against that, margins are thin, borrowings exceed net worth, the company is only five years old in a crowded, export-exposed industry. The issue closed 55.28× subscribed overall (QIBs 35.64×). The score describes the issue; it is research, not investment advice or a prediction of listing gains.
How to check TNA Solutions IPO allotment status?
Check on the registrar Maashitla Securities Pvt. Ltd.'s site (maashitla.com/allotment-status/public-issues), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of TNA Solutions IPO?
The registrar is Maashitla Securities Pvt. Ltd.. The book-running lead manager is Credora Partners Pvt. Ltd.. The market maker is Pace Stock Broking Services Pvt. Ltd..