Overview of Tenneco Clean Air India
Tenneco Clean Air India, a prominent division of the US-based Tenneco Group, is set to open its Initial Public Offering (IPO) for subscription tomorrow, Wednesday, November 12. As a leading automotive parts supplier, the company specializes in manufacturing and delivering advanced solutions for clean air, powertrains, and suspension systems, catering to both Indian OEMs and international markets.
With 12 manufacturing facilities, Tenneco Clean Air India supports the automotive and industrial sectors while also offering aftermarket products through its affiliate, Motocare India. The company holds a dominant position in supplying clean air systems for commercial truck OEMs and producing shock absorbers and struts for passenger vehicle OEMs in India.
Financial Performance Highlights
Quarterly Performance
For the quarter ending June 2025, Tenneco Clean Air reported a profit of ₹167.8 crore, a 12% increase from ₹150 crore in the same quarter last year. During this period, revenue grew marginally by 1.2%, reaching ₹1,285.6 crore compared to ₹1,270.8 crore previously.
Fiscal Year 2025 Performance
For the full fiscal year 2025, the company recorded a 32.5% rise in profit to ₹552 crore from ₹416.7 crore in the previous year. This growth was achieved despite a 10.6% decline in revenue, which fell to ₹4,890.4 crore from ₹5,467.6 crore, thanks to operational efficiencies and reduced raw material and other costs.
Key Highlights of Tenneco Clean Air India IPO
IPO Price Band and Lot Size
The IPO price band is set between ₹378 and ₹397 per equity share of face value ₹10. Each retail investor can subscribe in lots of 37 shares, with additional multiples of 37 thereafter.
IPO Opening and Closing Dates
The subscription window opens on Wednesday, November 12, and will close on Friday, November 14.
Grey Market Premium and Listing Expectations
Tenneco Clean Air India’s IPO Grey Market Premium (GMP) today is ₹50. Based on the upper price band and current market sentiment, the estimated listing price could reach ₹447 per share, approximately 12.59% above the IPO price of ₹397.
Anchor Investor Allocation
Allocation for anchor investors was scheduled for Tuesday, November 11, ahead of the public subscription.
IPO Composition and Size
The IPO is structured entirely as an offer-for-sale by the promoter, Tenneco Mauritius Holdings, without issuing new equity. The IPO size has been increased to ₹3,600 crore from the initially proposed ₹3,000 crore in the DRHP filed in June 2025.
Use of IPO Proceeds
As the issue is an offer-for-sale, Tenneco Clean Air India will not receive any proceeds; all funds will go to the promoter.
Listing and Allotment Schedule
The basis of allotment is expected to be finalized on Monday, November 17, with refunds processed on Tuesday, November 18. Shares are projected to be credited to demat accounts the same day and listed on BSE and NSE on Wednesday, November 19.
Lead Managers and Registrar
The IPO is managed by JM Financial, Citigroup Global Markets India, Axis Capital, and HSBC Securities and Capital Markets (India), with MUFG Intime India Pvt Ltd serving as the registrar.
Reservation Details
- Up to 50% of shares reserved for Qualified Institutional Buyers (QIB)
- At least 15% for Non-Institutional Investors (NII)
- At least 35% reserved for retail investors
Related posts:
The woman along with her fiancé and friend killed her mother and was arrested
Ashwini Vaishnaw Backs Zoho for Swadeshi Tech Push
England's warrior shines before IPL mega auction, takes the wind out of the Kangaroos with a stormy ...
Modi 3.0 Third term swearing in ceremony
Asia Cup 2025: India vs Pakistan Final Still Possible
Piyush Pandey: The Heart of Ogilvy’s Creativity
About the Author
