TNA Solutions IPO
TNA Solutions LtdSME
This IPO opens on 30 Sep 2026.
- Open date
- 30 Sep 2026
- Close date
- 6 Oct 2026
- Min. Investment
- ₹2,80,000
- Lot Size
- -
- Fresh Issue
- ₹37.86 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.00x
- Non-Institutional Investors0.00x
- Retail-Individual Investors0.00x
- Total0.00x
Schedule
- Current step: IPO open date30 Sep 2026
- Upcoming: IPO close date6 Oct 2026
- Upcoming: Allotment date7 Oct 2026
- Upcoming: Funds unblock or debit8 Oct 2026
- Upcoming: Tentative listing date9 Oct 2026
About
Promoter shareholding in TNA Solutions Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Ambuj Jain | 99,75,000 | 66.50% | 99,75,000 | 48.88% |
| Ayush Jain | 2,92,500 | 1.95% | 2,92,500 | 1.43% |
| Tanu Jain | 25,000 | 0.17% | 25,000 | 0.12% |
| Anupam Jain | 5,000 | 0.03% | 5,000 | 0.02% |
| Anuj Jain | 5,000 | 0.03% | 5,000 | 0.02% |
TNA Solutions IPO Strengths & Risks
- Diversified home textile product portfolio.
- Geographically diversified, export-oriented revenue base.
- Experienced, hands-on promoter management.
- Multi-stage in-house quality control system.
- Technology-enabled, integrated operations.
- Risks Relating to the Business: The company's revenue from operations is significantly dependent on its sheeting segment, and any adverse change in demand, consumer preferences, or market conditions affecting this segment could adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company's business operations are dependent on its manufacturing facility. Any slowdown or shutdown in the company's manufacturing operations or strikes, work stoppages or increased wage demands by its employees that could interfere with the company operations could have an adverse effect on its business, financial condition and results of operations.
- Risks Relating to the Business: A substantial majority of the company's revenue from operations is derived from its B2B manufacturing segment. Any reduction in demand from the company's B2B customers or its inability to expand the company's B2C business may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: Any shortage, delay or disruption in the operations or any failures on the part of third-party job workers or processing partners may adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company is dependent on a limited number of suppliers for the procurement of raw materials used in its operations. Any disruption in supplies from such suppliers or the company's inability to maintain its relationships with them may adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: A substantial portion of the company's revenue from operations is derived from a limited number of customers. The loss of any such customer, a reduction or cancellation of its orders, or the company's inability to maintain these relationships could adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company has significant receivables on its books from the company's customers. Such receivables not realized and turned NPA or any delay in the receivables can have significant impact on the working capital cycle and the overall financial health of the company.
- Risks Relating to the Business: A significant portion of the company's revenue from operations is derived from export sales. Adverse developments in its export markets, including changes in tariffs, foreign exchange rates, trade restrictions, geopolitical conditions or logistics availability, could materially and adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: There have been instances of delays in statutory filings by the company in the past. In case of any delay in filing of said statutory filings in the future by the Company, the Regulatory Authorities may impose monetary penalties on the company or take certain punitive actions against the Company in relation to the same which may have adverse impact on its business, financial condition and results of operations.
- Risks Relating to the Business: One of the objects of the Issue is to utilise the net proceeds towards funding of capital expenditure requirement towards civil construction of the new manufacturing unit and purchase of plant and machinery. Any delay or inability in completing the said capital expenditure within the anticipated timelines may adversely affect the company's financial projections, business operations, and results of operations.
- Risks Relating to the Business: The company intends to utilise a portion of the Net Proceeds towards setting up a new manufacturing unit, which will substantially increase its manufacturing capacity. Any delay in implementation of the project, cost overruns or the company's inability to effectively utilise the additional manufacturing capacity may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: There have been instances of delays in payment of statutory dues, i.e. GST, ESIC, PF by the Company. In case of any delay in payment of statutory due in future by the Company, the regulatory authorities may impose monetary penalties on it or take certain punitive actions against the Company in relation to the same which may have adverse impact on its business, financial condition and results of operations.
- Risks Relating to the Business: The Company has experienced negative cash flows from operating and investing activities in the past and may experience negative cash flows in the future, which could adversely affect its liquidity, business, financial condition and results of operations.
- Risks Relating to the Business: Any conflict of interest which could occur between the company's business and any other similar business activities pursued by its Directors and Promoters could have a material adverse effect on the company's business and results of operations.
- Risks Relating to the Business: The company's revenue has grown rapidly, and such growth may not be sustained. The company's inability to manage the resulting strain on working capital, systems, controls, personnel and management resources, or to successfully implement its growth strategies, could adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company's business requires significant working capital. Negative operating cash flows, a longer receivables cycle or the company's inability to obtain adequate working capital financing on acceptable terms could adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company does not own the premises through which its conduct the company's business operations, and its dependence on leased properties without long-term lease agreements may expose the company to risks related to lease renewals, rental costs and continued access to such premises. If the company is unable to comply with the terms of the lease or license agreements, renew its agreements or enters into new agreements on favourable terms, or at all, the company's business, results of operations and financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: The company has not yet placed orders for the civil construction, plant and machinery proposed to be funded from the Net Proceeds. Any delay in placing or executing such orders, vendor non-performance, change in specifications or cost escalation may result in time or cost overruns, delay implementation of the company's expansion plans and adversely affect its business, prospects, financial condition and results of operations.
- Risks Relating to the Business: The Company in the past has entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
- Risks Relating to the Business: Information relating to the installed manufacturing capacity, production and capacity utilisation of the company's manufacturing facility included in this Red Herring Prospectus is based on certain assumptions and estimates of an independent Chartered Engineer. Under-utilisation of the company's manufacturing capacity or its inability to efficiently utilise the company's existing or expanded capacity may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company's business is manpower intensive. It may be adversely affected by work stoppages, increased wage demands by its employees, or an increase in minimum wages, and if the company is unable to engages new employees at commercially attractive terms, it could adversely affect the company's business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company has availed secured and unsecured borrowings. Any inability to service or comply with the terms and conditions of such borrowings may adversely affect its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company generates a significant portion of its domestic revenue from the company operations from the states of Haryana, Madhya Pradesh and Maharashtra. Any adverse developments affecting its operations in these regions could have an adverse impact on the company's revenue and results of operations.
- Risks Relating to the Business: The home textile industry is highly competitive, and the company's inability to compete effectively may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: Certain operating expenses may not decrease immediately or proportionately in response to a decline in production or revenue, which could adversely affect the company's margins, business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company's business is subject to stringent quality standards. Any failures to maintain the required quality standards of the company's products or any failures by its suppliers, processing partners or job workers to meet such standards may adversely affect the company's business, reputation, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company requires certain approvals and licenses in the ordinary course of business and the failures to successfully obtain/renew such registrations would adversely affect its operations, results of operations and financial condition.
- Risks Relating to the Business: In addition to the company's existing indebtedness, its may incur further indebtedness to meet the company's business requirements. Any inability to service its existing or future indebtedness may adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: Some of the Directors of the Company does not have prior experience as directors of a listed company.
- Risks Relating to the Business: The company is dependent on third party transportation providers for delivery of raw materials to the company from its suppliers and delivery of the company's finished products to its customers. The company has not entered into any formal contracts with its transport providers and any failures on part of such service providers to meet their obligations could adversely affect the company's business, financial condition and results of operation.
- Risks Relating to the Business: The company has limited operational experience and as such its may not be able to evaluate the company's business on the basis of past performance and compete in the industry due to limited history of the company.
- Risks Relating to the Business: Failures, disruption or unauthorised access to the company's information technology systems, including cyberattacks, loss of data or inadequate backup and disaster recovery arrangements, may adversely affect its business, financial condition, results of operations, cash flows and reputation.
- Risks Relating to the Business: Failures or disruption of the company's information technology systems may adversely affect its business, financial condition, results of operations, cash flows and prospects.
- Risks Relating to the Business: Any employee/Labor misconduct or errors that are difficult to detect and any such incidences could adversely affect the company's financial condition, results of operations and reputation.
- Risks Relating to the Business: Any changes in the regulatory framework could adversely affect the company operations and growth prospects.
- Risks Relating to the Business: If the company is unable to raise additional capital for its business, it may delay the Company's growth plan and have a material adverse effect on its business and financial condition.
- Risks Relating to the Business: If the company is unable to maintain an optimal level of inventory, its business, results of operations and financial condition may be adversely affected.
- Risks Relating to the Business: Certain trademarks used by the company is pending registration and/or under process of change in proprietorship, address details. Any failures to obtain registration of, or adequately protect, its intellectual property rights, or any infringement of third party intellectual property rights, may adversely affect the company's business, reputation and results of operations.
- Risks Relating to the Business: The company is subject to certain covenants under its financing and novation agreements and in case of any breach of covenants in the future, such non-compliance, if not waived, could adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: Orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on the company's business, financial condition and results of operations.
- Risks Relating to the Business: The average cost of acquisition of Equity shares by the company's Promoters is lower than the Offer price.
- Risks Relating to the Business: In addition to normal remuneration or benefits and reimbursement of expenses, some of its directors and key managerial personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- Risks Relating to the Business: The Objects of the Offer for which funds are being raised have not been appraised by any bank or financial institution. The deployment of funds is entirely at the discretion of the company's management and as per the details mentioned in the section titled "Objects of the Offer". Any revision in the estimates may requires it to reschedule the company's expenditure and may have a bearing on its expected revenues and earnings.
- Risks Relating to the Business: The company's success largely depends on its Board and Key Managerial Personnel and the company's ability to attract and retain them. Any loss of its director and key managerial personnel could adversely affect the company's business, operations and financial condition.
- Risks Relating to the Business: The company's continued success is dependent upon its ability to hire, retain and utilize qualified personnel.
- Risks Relating to the Business: Industry information included in this Red Herring Prospectus has been derived from independent reports and information available on various third-party websites. As such, the company cannot guarantee the accuracy or completeness of facts and other statistics with respect to the industry information contained in this Red Herring Prospectus and reliability on the same could adversely impact its operations.
- Risks Relating to the Business: The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Offer. Further the company has not identified any alternate source of financing the "Objects of the Offer". Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- Risks Relating to the Business: The company's Promoters, together with its Promoter Group, will continue to retain majority shareholding in the Company after the proposed Initial Public Offer, which will allow them to exercise significant control over the company. Its cannot assure you that the company's Promoters and Promoter Group members will always act in the best interests of the Company.
- Risks Relating to the Business: The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Risks Relating to the Business: Any future issuance of Equity Shares may dilute the shareholding of individual investors, and sales of the Equity Shares by the company's major shareholders may adversely affect the trading price of its Equity Shares.
- Risks Relating to the Business: The price of the company's Equity Shares may be volatile, and an active trading market for its Equity Shares may not develop following the listing of the company's Equity Shares on the Stock Exchanges.
- Risks Relating to the Business: There is no guarantee that the company's Equity Shares will be listed on the BSE in a timely manner or at all.
