TNA Solutions Ltd IPO
Textiles
Price Band
₹66 – ₹70
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹280000
Issue Size
₹37.86Cr
Opens
2026-09-30
Closes
2026-10-06
Listing
09-10-2026
Subscription Status
Qualified Institutional Buyers
35.64 x
Non-Institutional Investor
75.82 x
Retail Individual Investor
45.58 x
Total
51.12 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE10VL01011
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
TNA Solutions Limited is engaged in the manufacturing of home textile products for domestic and international customers. Its product portfolio includes sheet sets, pillow shells and covers, bath and hand towels, comforters, quilts, dohars and mattress protectors. The company primarily operates on a B2B basis, manufacturing products according to customer specifications that are sold under the customers’ brands or labels. It also sells home furnishing products through B2C channels under its own brand, Ambra Linens, through e-commerce marketplaces, retailers, wholesalers and its website. The company operates a manufacturing facility in Indore, Madhya Pradesh, where processed or finished fabric undergoes cutting, stitching, embroidery, finishing, quality control, packaging and dispatch. Greige fabric is sourced from weavers and sent to third-party processing houses for dyeing, printing and other processing activities.
Pros
- • TNA Solutions has a diversified home textile product portfolio comprising sheeting, pillow products, towels and top-of-bed products.
- • The company has expanded its export business, with export revenue standing at Rs 1.00 crore, Rs 27.21 crore and Rs 54.41 crore, accounting for 2.79%, 33.39% and 52.03% of its revenue from operations in FY24, FY25 and FY26, respectively. Its export markets include the USA, UAE, South Africa, Israel, Singapore, Hong Kong and Malaysia.
- • The company claims to have a multi-stage quality control system comprising incoming material inspection, first-piece approval, in-process inspections, endline inspection, AQL-based final random inspection, CAPA and product traceability. It also holds OEKO-Tex Standard 100 and GOTS-Scope certifications and is SCAN compliant, organic-compliant, Walmart-approved and assessed under the SEDEX ethical compliance framework.
Cons
- • A significant portion of the company’s revenue is dependent on its sheeting segment. Revenue from sheeting stood at Rs 32.31 crore, Rs 60.30 crore and Rs 53.29 crore, accounting for 90.13%, 74.00% and 50.95% of revenue from operations in FY24, FY25 and FY26, respectively. Any decline in demand for this segment may affect its revenue and profitability.
- • The company is significantly dependent on its B2B manufacturing business. Revenue from B2B operations stood at Rs 35.59 crore, Rs 81.41 crore and Rs 104.16 crore, accounting for 98.21%, 99.91% and 99.60% of revenue from operations in FY24, FY25 and FY26, respectively, while B2C revenue stood at Rs 0.26 crore, Rs 0.07 crore and Rs 0.42 crore, accounting for 1.79%, 0.09% and 0.40%, respectively. Any reduction in purchase orders from B2B customers, loss of existing customers or inability to expand its B2C operations may adversely affect the company’s revenue, financial condition and cash flows.
- • The company outsources dyeing, printing and other wet-processing activities to third-party processing houses and does not have long-term agreements with them. Job-work expenses stood at Rs 3.42 crore, Rs 8.44 crore and Rs 11.14 crore, accounting for 10.62%, 11.29% and 11.42% of total expenses in FY24, FY25 and FY26, respectively. Any delay, disruption, capacity constraint or quality issue at these third-party processing houses may increase production costs, affect product quality, delay customer deliveries or result in cancellation of customer orders.
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