TNA Solutions Limited’s IPO terms are absent from supplied pages

TNA Solutions’ supplied prospectus pages do not substantiate a Rs 2 lakh minimum application, a 2,000-share trading lot, a two-lot bid requirement or a Rs 66–70 price band. Pages 253 to 256 cover litigation disclosures, creditor dues and government approvals rather than the issue-structure terms needed to verify those claims.

Do the supplied pages state TNA Solutions’ IPO application minimum?

No. Pages 253 to 256 do not provide an issue price, price band, bid lot, minimum bid quantity, retail application amount, trading lot or allocation category for TNA Solutions. A factual determination of the required application amount therefore cannot be made from this extract.

The supplied material identifies BSE as the designated stock exchange through an in-principle approval letter dated September 22, 2026. It says the approval permits use of BSE’s name in the offer document for listing equity shares on BSE’s SME platform, but it does not state the terms on which applicants may bid or trade.

What offering information do pages 253 to 256 actually provide?

The pages provide corporate and regulatory information, not the commercial structure of TNA Solutions’ proposed issue. The board approved the issue on July 6, 2026, subject to shareholder approval under Section 62(1)(c) of the Companies Act, 2013, and shareholders authorised it on July 10, 2026.

The extract also states that TNA Solutions entered agreements with Central Depository Services (India) Limited, or CDSL, on August 6, 2024, and National Securities Depository Limited, or NSDL, on February 19, 2025. Both agreements concern dematerialisation of shares, with Maashitla Securities Private Limited named as registrar and transfer agent. The stated International Securities Identification Number, or ISIN, is INE10VL01011.

Why cannot the Rs 2 lakh minimum application claim be verified?

The Rs 2 lakh minimum-application claim cannot be verified because the supplied pages contain none of the numerical inputs required to calculate it. Such a calculation would require, at minimum, the issue price and the minimum quantity for which an applicant must bid.

Pages 253 to 256 do not mention 2,000 shares, 4,000 shares, two lots or any other lot-based quantity. They also do not mention Rs 66, Rs 70 or another price per equity share. Without those disclosed terms, multiplying shares by a price would be an unsupported calculation rather than a reported fact.

What do the pages say about TNA Solutions’ disclosed liabilities?

TNA Solutions reported total standalone trade payables of Rs 6.1539 crore as of March 31, 2026. Under the board’s materiality policy adopted on July 6, 2026, a creditor was treated as material when outstanding dues exceeded 10% of total trade payables in the latest restated financial statements.

The creditor table lists three material creditors owed Rs 3.2888 crore and 79 other creditors owed Rs 2.8651 crore, for 82 creditors and Rs 6.1539 crore in total. Material creditors represented three of the 82 disclosed creditors and Rs 3.2888 crore of the stated trade-payables balance, while the other-creditor category represented 79 creditors and Rs 2.8651 crore.

What legal and approval disclosures are available for TNA Solutions?

TNA Solutions states that, except as disclosed in the litigation section, there were no outstanding criminal proceedings, material civil litigation, tax proceedings or actions by statutory and regulatory authorities involving the company, promoters or directors. The tax-proceedings table on page 255 records nil direct-tax and indirect-tax cases and nil amounts for the company, promoters, non-promoter directors and group entity.

The board’s material-litigation policy, adopted on July 6, 2026, uses the lower of three thresholds: 2% of turnover, 2% of net worth unless net worth is negative, or 5% of the average absolute value of profit or loss after tax for the previous three annual restated financial statements. The extract does not provide the turnover, net-worth or profit-and-loss figures needed to calculate those thresholds.

TNA Solutions also states that it had no pending licences, permissions or approvals applied for but not yet received from central or state governments, agencies, regulators or certification bodies. The approvals list includes a factory licence renewed on March 7, 2026, valid to December 31, 2026, and a fire no-objection certificate valid to February 2, 2028.

Conclusion

The supplied pages establish that TNA Solutions had board and shareholder approval for an issue, BSE in-principle approval for SME-platform listing, Rs 6.1539 crore of trade payables as of March 31, 2026, and the stated legal and approval disclosures. They do not establish the proposed IPO’s price band, application-lot requirement, minimum application amount or trading-lot size.

The unresolved item is the issue-structure disclosure that expressly states the price band, bid lot and minimum bid quantity. Only those disclosed terms can determine whether a two-lot application totals Rs 2 lakh or another amount, and whether a 2,000-share quantity is an application lot, a trading lot or neither.