
TNA Solutions IPO Details
Last Updated on October 1, 2026 TNA Solutions Ltd. IPO Incorporated in September 2021, TNA Solutions Limited is engaged in the manufacturing of home textile products for domestic and international
Incorporated in 1996, Karamtara Engineering Limited is engaged in the business of manufacturing Products for renewable energy and transmission lines.
The company offers a diverse product portfolio, serving as a one-stop shop for solar structures (fixed-tilt and trackers), fasteners for solar energy and transmission sectors, and overhead transmission line hardware fittings.
The company is entering the wind energy sector by setting up a manufacturing facility for tubular towers for wind turbines, with operations expected to begin in the first quarter of Fiscal 2026.
As of March 31, 2026, the company has a global presence, exporting to over 50 countries across North America, Europe, Asia, Africa, Australia, and Latin America, with a broad geographical footprint and delivery model.
The company focuses on backward integration with in-house galvanizing facilities, the largest in India’s solar energy sector (258,000 MTPA), and rolling mill furnaces, providing competitive advantages in the supply chain, time efficiency, and cost.
As of March 31, 2024, the company had 1,015 permanent employees.
Karamtara Engineering Ltd.’s revenue increased by 36% and profit after tax (PAT) rose by 64% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 4,142.24 | 2,762.59 | 1,844.56 |
| Total Income | 4,316.36 | 3,165.36 | 2,427.12 |
| Profit After Tax | 228.75 | 139.33 | 102.65 |
| EBITDA | 498.11 | 346.83 | 262.93 |
| NET Worth | 1,219.40 | 982.67 | 552.92 |
| Reserves and Surplus | 926.55 | 690.53 | 547.46 |
| Total Borrowing | 1,030.13 | 556.28 | 508.51 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Juniper Green Energy Ltd. | Mainboard | ₹1,800.00 Cr | ₹225 | 271.08 | ₹259.71 | +15.43% | ₹265.10 |
| Clean Max Enviro Energy Solutions Ltd. | Mainboard | ₹3,079.88 Cr | ₹1053 | 634.34 | ₹867.50 | -17.62% | ₹1,347.90 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding prepayment, repayment and/ or payment obligations to lenders towards borrowings and Acceptances, in part or full | 600.00 |
| 2 | General corporate purposes | |
| Total | 600.00 |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 20.77% | 18.13% |
| ROCE | 23.27% | 23.30% |
| Debt/Equity | 0.84 | 0.57 |
| RoNW | 20.78% | 18.15% |
| EBITDA Margin | 11.55% | 10.98% |
| NAV | 41.72 | 33.62 |
| Price to Book Value | 6.09 | 7.56 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 7.75 | 7.11 |
| P/E (x) | 32.77 | 35.72 |
| IPO Date | 9 to 11 Sep, 2026 |
| Listing Date | Thu, Sep 17, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹241 to ₹254 |
| Lot Size | 59 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,44,48,817 shares (agg. up to ₹875 Cr) |
| Fresh Issue | 2,65,74,803 shares (agg. up to ₹675 Cr) |
| Offer for Sale | 78,74,014 shares of ₹10 (agg. up to ₹200 Cr) |
| Share Holding Pre Issue | 29,52,47,996 shares |
| Share Holding Post Issue | 32,18,22,799 shares |
The promoters of the company are Tanveer SIngh, Rajiv Singh, Inderjeet Singh, Inderjeet Tanveer Singh Trust and Inderjeet Rajiv Singh Trust.
| Share Holding Pre Issue | 94.79% |
| Share Holding Post Issue | 83.64% |
As per our analysis and Based on the information we have, this is the output.
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