BSE SME TNA Solutions fails to make the cut on debut
The counter hit a high of Rs 56 and a low of Rs 53.20. About 15.48 lakh shares changed hands on the BSE.
TNA Solutions' IPO was subscribed 51.39 times. The IPO opened for subscription on 30 September 2026 and will close on 6 October 2026. The price band was fixed at Rs 66 to Rs 70 per share.
The IPO comprised an entirely fresh issue of 54.08 lakh shares. TNA Solutions raised Rs 10.75 crore from nine anchor investors through the allotment of 15.36 lakh shares at Rs 70 per share on 29 September 2026.
The promoter and promoter group holding declined to 50.48% after the IPO from 68.69% before the issue.
The company plans to use Rs 6.76 crore of the IPO proceeds towards capital expenditure for civil construction of its new manufacturing unit and purchase of plant and machinery. Another Rs 20 crore will be used to fund working capital requirements, with the balance earmarked for general corporate purposes.
Incorporated in September 2021, TNA Solutions manufactures home textile products for domestic and international customers. Its manufacturing facility is located in Indore, Madhya Pradesh, where it converts processed fabrics into finished home furnishing products based on customer specifications. Its product portfolio includes sheet sets, pillow shells and covers, towels, comforters, quilts, dohars and mattress protectors.
The company primarily operates through a B2B manufacturing model, supplying products to global retailers, importers and domestic brands under their respective brands or specified labels. It also operates through B2C channels such as e-commerce marketplaces, wholesalers and retailers, besides its own Ambra Linens brand, which was launched in 2022. The company launched the Ambra Linens website in July 2026.
TNA Solutions procures greige fabric from weavers and finished or processed fabric from mills, processing houses and stockists. Third-party processing houses undertake weaving, dyeing and printing, while the company handles cutting, stitching, embroidery, finishing, quality assurance, packaging and dispatch at its Indore facility.
As of 31 July 2026, the company had 193 employees on payroll and 66 contractual employees.
The company's total income increased 31.26% to Rs 110.45 crore in FY2026 from Rs 84.13 crore in FY2025, while profit after tax rose 43.84% to Rs 9.58 crore from Rs 6.66 crore. EBITDA increased 23.59% to Rs 12.68 crore from Rs 10.26 crore during the same period. The company reported net worth of Rs 35.94 crore and total borrowings of Rs 46.29 crore as of 31 March 2026.
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