TNA Solutions IPO
TNA Solutions IPO Details
-
Open Date
30 Sep 2026
-
Close Date
06 Oct 2026
- IPO Price Range
₹ 66 to ₹70
- IPO Size
₹ 37.86 Cr
TNA Solutions IPO Timeline
Last Updated: 25 September 2026 4:24 PM by 5paisa
TNA Solutions Limited manufactures value-added home textile and furnishing products for domestic as well as international customers. Its product portfolio includes sheet sets, pillow shells and covers, towels and top-of-bed products such as comforters, mattress protectors and quilts. The company procures greige and finished fabric from weavers, mills, processing houses and stockists, with subsequent cutting, stitching, embroidery, finishing, quality control, packaging and dispatch carried out through its operations in Indore, Madhya Pradesh.
The business predominantly follows a B2B model, manufacturing products for global retailers, importers and domestic brands. Alongside this, TNA has developed a B2C presence through e-commerce marketplaces, offline retailers and wholesalers. Its own consumer brand, Ambra Linens, was launched in 2022, with a dedicated direct-to-consumer website introduced in July 2026.
TNA has both domestic and export operations. Its international markets include the United States, UAE, South Africa, Israel, Singapore, Hong Kong, Malaysia and Mauritius. Exports accounted for approximately 52.03% of its revenue in FY26, giving the company meaningful exposure to overseas home-textile demand.
The business traces its origins to TNA Solutions LLP, incorporated in September 2021, before being converted into TNA Solutions Limited in June 2024.
Established in: 2021
Managing Director: Ambuj Jain
Peers:
Faze Three Limited
VTM Limited
TNA Solutions Objectives
The company proposes to utilise the net proceeds from the fresh issue towards:
1. Funding capital expenditure for civil construction of a new manufacturing unit and purchase of plant and machinery.
2. Funding working capital requirements.
3. General corporate purposes.
TNA Solutions IPO Size
| Type | Size |
|---|---|
| Total IPO Size | ₹37.86 Cr |
| Offer for Sale | - |
| Fresh Issue | ₹37.86 Cr* |
TNA Solutions IPO Lot Size
| Application | Lots | Shares | Amount at Upper Price Band |
|---|---|---|---|
| Individual Investors - Minimum | 2 | 4,000 | ₹2,80,000 |
| Individual Investors - Maximum | 2 | 4,000 | ₹2,80,000 |
| HNI - Minimum | 3 | 6,000 | ₹4,20,000 |
| S-HNI - Maximum | 7 | 14,000 | ₹9,80,000 |
| B-HNI - Minimum | 8 | 16,000 | ₹11,20,000 |
| Particulars (₹ Crore) | FY24 | FY25 | FY26 |
| Revenue from Operations | 35.85 | 81.48 | 104.58 |
| EBITDA | 5.13 | 10.26 | 12.67 |
| PAT | 2.68 | 6.65 | 9.58 |
| Particulars (₹ Crore) | FY24 | FY25 | FY26 |
| Total Assets | 24.33 | 57.47 | 94.21 |
| Net Worth | 4.98* | 22.85 | 35.93 |
| Total Debt | 11.28 | 25.72 | 46.29 |
| Particulars (₹ Crore) | FY25 | FY26 |
| Cash Flow From Operating Activities | -17.26 | -18.47 |
| Cash Flow From Investing Activities | -2.66 | -5.57 |
| Cash Flow From Financing Activities | 23.10 | 20.86 |
| Net Increase/(Decrease) in Cash | 3.18 | -3.18 |
Strengths
1. Growing operating scale: Revenue increased from ₹35.85 crore in FY24 to ₹104.58 crore in FY26, alongside growth in profitability.
2. Domestic and international presence: The company supplies customers in India and across several overseas markets, with exports contributing around 52% of FY26 revenue.
3. Diversified home-textile portfolio: Its offerings span sheet sets, pillow covers, towels, comforters, mattress protectors and quilts.
4. Multiple sales channels: TNA combines its core B2B manufacturing operations with e-commerce, offline distribution and its own Ambra Linens consumer brand.
5. Experienced leadership: The promoters have experience across home textiles, marketing, finance, sourcing and business operations.
Weaknesses
1. Negative operating cash flow: Operating cash flow remained negative in FY25 and FY26 despite positive reported earnings.
2. Higher working-capital intensity: Inventory and receivable requirements have increased with the expansion of the business.
3. Rising borrowings: Total debt increased from ₹11.28 crore in FY24 to ₹46.29 crore in FY26.
4. Relatively short operating history: The business commenced operations in 2021 and therefore has a shorter track record compared with several established textile manufacturers.
Opportunities
1. Capacity expansion: Part of the IPO proceeds is intended to fund construction of a new manufacturing facility and purchase additional plant and machinery.
2. Expansion of exports: Existing relationships across multiple international markets provide a base from which the company can broaden its overseas presence.
3. Growth of its consumer brand: Ambra Linens gives TNA an additional direct-to-consumer channel beyond its conventional B2B manufacturing model.
4. Wider product penetration: The company's range across bedding, towels and top-of-bed products provides scope to cater to different customer segments and order requirements.
Threats
1. Export-market exposure: With more than half of FY26 revenue coming from exports, changes in overseas demand, trade conditions, logistics costs or currency movements can affect business performance.
2. Raw-material and sourcing risks: The company depends on externally procured greige and finished fabric, making availability, price and quality of inputs important to operations.
3. Competitive textile industry: Home textiles operate in a competitive market where pricing, quality, delivery timelines and customer relationships can influence order flows.
4. Working-capital pressure: Continued growth may require additional funds to support receivables, inventory and other operating requirements.
1. Revenue increased from ₹35.85 crore in FY24 to ₹104.58 crore in FY26, with PAT rising from ₹2.68 crore to ₹9.58 crore during the same period.
2. The company serves both domestic and international markets, with exports accounting for approximately 52.03% of FY26 revenue.
3. Its portfolio covers several home-textile categories and combines B2B manufacturing with an emerging B2C presence through Ambra Linens.
4. IPO proceeds are proposed to support manufacturing capacity as well as working-capital requirements.
5. Investors should also consider the company's negative operating cash flow, increase in borrowings and working-capital intensity while evaluating the issue.
India has a large textile and home-furnishing manufacturing ecosystem serving domestic retailers, international brands, importers and online consumers. Within home textiles, manufacturers compete on factors including product design, quality, sourcing efficiency, compliance standards, cost competitiveness and delivery capability.
TNA Solutions operates across both domestic and international markets rather than depending on a single sales channel. Its core business remains B2B manufacturing, while its presence on e-commerce platforms and the development of Ambra Linens add a consumer-facing component to its operations. The company also uses an ERP-supported operating system covering functions such as order management, procurement, production planning, quality control and dispatch.
The proposed new manufacturing unit could expand production infrastructure if executed as planned. At the same time, the company's future growth will depend on its ability to manage working-capital requirements, maintain customer relationships, control sourcing and production costs and scale exports without disproportionately increasing leverage.
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FAQs
TNA Solutions IPO opens for subscription on September 30, 2026 and closes on October 6, 2026.
The TNA Solutions IPO comprises 54.08 lakh equity shares. At the upper price band of ₹70 per share, the total issue size is approximately ₹37.86 crore.
The price band for TNA Solutions IPO is fixed at ₹66 to ₹70 per equity share.
To apply for TNA Solutions IPO through 5paisa:
1. Log in to your 5paisa demat account and select TNA Solutions IPO under the current IPO section.
2. Enter the number of lots and the price at which you wish to apply.
3. Enter your UPI ID and submit your IPO application.
4. Once the bid is placed, approve the mandate received through your UPI application to block the required funds.
The IPO lot size is 2,000 shares. Individual investors need to apply for a minimum of two lots, equivalent to 4,000 shares. At the upper price band of ₹70, the minimum application amount is ₹2,80,000.
The tentative basis of allotment date for TNA Solutions IPO is October 7, 2026. Refunds and credit of shares to eligible investors' demat accounts are expected on October 8, 2026.
TNA Solutions shares are tentatively scheduled to list on the BSE SME platform on October 9, 2026.
Credora Partners Private Limited is the book-running lead manager for the TNA Solutions IPO.
Maashitla Securities Private Limited is the registrar to the TNA Solutions IPO.
The company proposes to use the IPO proceeds for capital expenditure towards construction of a new manufacturing unit and purchase of plant and machinery, funding its working-capital requirements and general corporate purposes.