The TNA Solutions SME IPO 2026 is currently open for investors looking at the Indian SME IPO market. TNA Solutions Limited is a home textile manufacturer based in Madhya Pradesh and supplies products to domestic and international customers.
The IPO opened on 30 September 2026 and will close on 6 October 2026. The company is looking to raise around ₹37.86 crore through a fresh issue of equity shares. The shares are proposed to be listed on the BSE SME platform.
For readers tracking the Upcoming IPO in India, SME IPO List, IPO GMP Today and IPO allotment, newipo.info provides regular IPO-related updates.
TNA Solutions SME IPO – Key Details
| Particular | Details |
|---|---|
| Company Name | TNA Solutions Limited |
| IPO Type | SME IPO |
| IPO Opening Date | 30 September 2026 |
| IPO Closing Date | 6 October 2026 |
| Price Band | ₹66 – ₹70 per share |
| Face Value | ₹10 per share |
| Lot Size | 2,000 shares |
| Minimum Retail Application | 4,000 shares / 2 lots |
| Minimum Retail Investment | ₹2,80,000 |
| Issue Size | Up to ₹37.86 crore |
| Issue Type | Fresh Issue |
| Listing | BSE SME |
| Allotment Date | 7 October 2026 |
| Listing Date | 9 October 2026 |
| Registrar | Maashitla Securities Pvt. Ltd. |
| Lead Manager | Credora Partners Pvt. Ltd. |
The IPO has a minimum bid requirement of 4,000 shares for retail investors, which means an application at the upper price band requires ₹2.80 lakh.
About Company
TNA Solutions Limited was set up in 2021 as TNA Solutions LLP and converted into a public limited company in 2024. It manufactures home textile products for customers in India and abroad.
Its range covers sheet sets, pillow shells and covers, towels and top-of-bed products such as comforters, mattress protectors and quilts. The company buys greige fabric from weavers and finished fabric from mills, processing houses and stockists, and uses third-party processors for dyeing, printing and other wet-processing while keeping ownership of the fabric.
At its manufacturing facility in Indore, Madhya Pradesh, the fabric is cut, stitched, embroidered, finished, quality-checked and packed for dispatch. Most products are made to customer specifications and sold under the labels of global retailers, importers and domestic brands.
B2B manufacturing contributed 99.60% of revenue from operations in Fiscal 2026, with the balance from B2C sales. Exports made up about 52.03% of revenue from operations in the same year, with the USA and UAE as the largest overseas markets.
The company also sells directly to consumers under its own brand, Ambra Linens, launched in 2022, through online marketplaces, retailers and wholesalers, and since July 2026 through its own website.
Going forward, it aims to build its owned brand alongside its core manufacturing business and is setting up a new manufacturing unit in Madhya Pradesh to add capacity.
Strengths
Diversified Home Textile Portfolio: The company makes sheet sets, pillow shells, towels and comforters in a range of sizes and qualities for domestic and overseas home furnishing buyers. In FY 2025-26, sheeting contributed 50.95% of revenue from operations, pillow pairs 31.86%, towels 13.42% and top-of-bed products 3.77%, reducing reliance on any single category.
Export-Oriented Geographic Revenue Base: In Fiscal 2026, exports accounted for approximately 52.03% of revenue from operations and domestic sales for 47.97%. Customers are spread across several Indian states and overseas markets including the USA, UAE, South Africa, Israel and Singapore, which the company says lowers its dependence on any one market.
Experienced Promoter-Led Management: Managing Director Ambuj Jain has 19 years of textile industry experience, including at Trident, GHCL and Birla Century. Director and CFO Ayush Jain brings 8 years in finance and accounting, and Non-Executive Director Tanu Jain leads product design with 5 years of experience, supported by senior managers in marketing and operations.
Risk Factors
Dependence on Sheeting Segment: Sheeting products such as flat sheets, fitted sheets and duvet sets generated ₹5,328.72 lakhs, or 50.95% of revenue from operations, in Fiscal 2026. A drop in demand for these products or a failure to keep up with changing consumer preferences could lead to lower sales, slow-moving inventory and weaker margins.
Single Manufacturing Facility: All manufacturing takes place at the company's facility in Indore, Madhya Pradesh. Equipment breakdowns, accidents, natural disasters, regulatory action or labour disputes could force a slowdown or shutdown, adding repair costs and disrupting output and results of operations. The company states it has not faced such a disruption so far.
Concentration in B2B Manufacturing: B2B manufacturing for domestic and international brands contributed 99.60% of revenue from operations in Fiscal 2026, while B2C sales contributed only 0.40%. Lower orders, loss of customers or pricing pressure from B2B buyers could hurt revenue, and the early-stage Ambra Linens brand may not grow enough to diversify the business.
TNA Solutions IPO Issue Size
The IPO comprises up to 54.08 lakh equity shares, aggregating up to approximately ₹37.86 crore at the upper price band.
It is a fresh issue, meaning the funds raised through the issue are intended for the company's stated business purposes rather than being an offer for sale by existing shareholders.
The company plans to use the IPO proceeds mainly for:
- Construction of a new manufacturing unit
- Purchase of plant and machinery
- Working capital requirements
- General corporate purposes
Around ₹20 crore is planned for working capital, while approximately ₹6.76 crore is intended for capital expenditure related to the new manufacturing unit and machinery.
TNA Solutions IPO Price and Lot Size
The IPO price band has been fixed at ₹66 to ₹70 per equity share.
The lot size is 2,000 shares. Retail investors are required to apply for at least two lots, or 4,000 shares.
At the upper price of ₹70, the minimum retail application comes to:
4,000 × ₹70 = ₹2,80,000
This relatively high application amount is an important point investors should consider before applying for the SME IPO.
TNA Solutions IPO GMP Today
The Grey Market Premium (GMP) is an unofficial market indicator and can change quickly depending on demand and market sentiment.
As of 1 October 2026, one market-tracking source reported a GMP of around ₹7 per share, while GMP figures can vary between sources and throughout the day.
Investors should not consider GMP as a guaranteed listing gain. The grey market is unofficial, and the actual listing price can be different from the GMP-based estimate.
For this reason, investors should study the company's financial performance, business model, valuation and risk factors rather than relying only on IPO GMP Today.
TNA Solutions Financial Performance
TNA Solutions has reported significant growth in revenue and profit over the recent financial years.
According to available FY2026 figures, the company's total income was around ₹110.45 crore, compared with approximately ₹84.13 crore in FY2025. Profit after tax increased to around ₹9.58 crore from ₹6.66 crore in FY2025.
| Financial Year | Revenue / Total Income | Profit After Tax |
|---|---|---|
| FY2024 | Around ₹36 crore | Around ₹2.7 crore |
| FY2025 | Around ₹84 crore | Around ₹6.7 crore |
| FY2026 | Around ₹110 crore | Around ₹9.6 crore |
The figures show growth in both revenue and profit, although investors should also look at cash flows, borrowings and working-capital requirements before reaching their own conclusion about the company.
Expansion Plans
One of the main reasons for the IPO is to support TNA Solutions' expansion.
The company plans to develop a new manufacturing unit and purchase additional plant and machinery. This expansion is intended to increase production capacity and support future orders.
The company has already expanded its manufacturing facility from around 26,000 sq. ft. to 56,000 sq. ft. during 2025. It is also working toward additional manufacturing capacity in Madhya Pradesh.
Export and International Business
TNA Solutions serves customers in both domestic and international markets.
Its export business has grown in recent years, with exports accounting for about 52% of revenue from operations in FY2026, according to available offer-document-based information. The company has customers and markets outside India, including the USA and UAE.
The international exposure gives the company access to overseas demand, but it also means investors should consider risks related to foreign markets, currency movements, customer concentration and international trade conditions.
TNA Solutions IPO Timeline
The important IPO dates are:
- IPO Opens: 30 September 2026
- IPO Closes: 6 October 2026
- Allotment: 7 October 2026
- Refund/Unblocking: 8 October 2026
- Shares Credited: 8 October 2026
- Listing: 9 October 2026
These dates are based on the current IPO schedule and may be subject to changes announced by the company or exchange.
Risks to Consider
Like any SME IPO, TNA Solutions also has certain risks that investors should understand.
The company operates in a competitive home textile market where demand, raw material prices, customer requirements and international business conditions can affect performance.
Another important point is working capital. A significant portion of the IPO proceeds is planned for working capital requirements, so investors should understand the company's cash-flow cycle and funding needs.
SME stocks can also have lower liquidity than mainboard stocks after listing. Investors should therefore consider their own risk tolerance and investment horizon before applying.
Final Thoughts
The TNA Solutions SME IPO 2026 brings a home textile manufacturing business to the SME IPO market. The company manufactures products such as bedsheets, towels, pillow covers, comforters and mattress protectors and serves both Indian and overseas customers.
The IPO is priced at ₹66–₹70 per share, with a lot size of 2,000 shares. The issue is open from 30 September to 6 October 2026, with a proposed BSE SME listing on 9 October 2026.
The company plans to use the IPO proceeds for a new manufacturing unit, machinery, working capital and general corporate purposes. Investors should read the official offer documents carefully and consider both the company's growth plans and associated risks.
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