TNA Solutions Shares Fall 20% On Debut To ₹56 Against ₹70 IPO Price

Mumbai, October 9: TNA Solutions shares were trading at ₹56 on the BSE SME at 9:35 AM IST, down 20% from the IPO issue price of ₹70 per share. The stock chart shows the shares opening at ₹70 before falling to ₹56.

The movement followed the company’s ₹37.86 crore IPO, which was subscribed 39.16 times overall during the September 30–October 6 bidding period.

TNA Solutions Shares Fall To ₹56 After Listing

TNA Solutions shares were quoted at ₹56 at 9:35 AM IST on October 9, against the IPO issue price of ₹70. This represented a decline of ₹14 per share, or 20%, from the issue price.

The chart shows the stock initially trading at ₹70 before moving down to ₹56. At the displayed snapshot, trading volume stood at 6,82,000 shares.

IPO Was Entirely A Fresh Issue

TNA Solutions raised ₹37.86 crore through a fresh issue of 54.08 lakh shares. There was no offer for sale component, meaning the issue proceeds from the fresh shares were intended for the company, subject to the stated use of proceeds.

The IPO price band was ₹66–₹70 per share, with the final issue price fixed at ₹70. The lot size was 2,000 shares, requiring a minimum retail application of ₹1,40,000 at the issue price.

Of the total issue, 2.72 lakh shares were reserved for the market maker, leaving 51.36 lakh shares as the net public issue.

TNA Solutions IPO Subscription Reached 39.16 Times

The TNA Solutions IPO was subscribed 39.16 times overall by October 6, according to the subscription figures shown in the supplied data.

The qualified institutional buyer (QIB) category was subscribed 15.24 times, while the non-institutional investor (NII) category received 102.30 times subscription. The retail portion was subscribed 46.06 times.

Within the NII category, bids for the portion above ₹10 lakh reached 115.01 times the shares offered, while the portion below ₹10 lakh was subscribed 76.89 times. The issue recorded 27,639 applications.

TNA Solutions Shares Trade Below Issue Price

At the 9:35 AM IST snapshot, TNA Solutions shares were trading at ₹56, representing a 20% decline from the ₹70 IPO issue price. The chart showed the price moving down from ₹70 to ₹56 during the session.

The company’s ₹37.86 crore IPO comprised 54.08 lakh fresh shares and attracted 39.16 times overall subscription.

Source:

• https://www.bseindia.com/stock-share-price/tna-solutions-ltd/tna/544983