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Tenneco Clean Air India Limited IPO

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Listed On: Nov 19, 2025 at ₹ 505.0(NSE)

₹ 14689 /37 Shares

Check Allotment

12 Nov, 2025

Open Date

14 Nov, 2025

Close Date

17 Nov, 2025

Allotment Date

19 Nov, 2025

Listing Date
Price Summary

Last Closing

522.00 (31.49%)

52 Week High

556.40

52 Week Low

438.05

Last Update

30-Jan-2026 3:30 PM
Expected Premium
+ ₹102-103 (25.69%)

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Tenneco Clean Air India IPO Live Subscription Details
View Subscription Details
QIB 174.78x
Retail 5.37x
NIIs 42.79x
BHNI 49.38x
SHNI 29.61x
Retail 5.37x
Total 61.79x
Last updated: 14 Nov 2025, 06:57 PM
Tenneco Clean Air India IPO Issue Details
  • Issue Price ₹378-397 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 9,06,80,101 shares(aggregating up to ₹3600 crore)
  • Offer For Sale 9,06,80,101 shares(aggregating up to ₹3600 crore)
  • Listing at BSE, NSE
  • List Price 505.0(NSE)
  • Listing Date 2025-11-19
  • Lead Manager JM Financial Ltd
    Citigroup Global Markets India Pvt.Ltd
    Axis Bank Ltd
    HSBC Securities & Capital Markets (India) Pvt.Ltd
  • Registrar MUFG Intime India Pvt.Ltd.
Market Lot Size

Investors can bid for a minimum of 37 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 37 ₹14,689
Retail(max) 13 481 ₹1,90,957
SHNI(min) 14 518 ₹2,05,646
SHNI(max) 68 2,516 ₹9,98,852
BHNI(min) 69 2,553 ₹10,13,541
Tenneco Clean Air India IPO Reservation

Tenneco Clean Air India IPO offers total 90680100 shares. Out of which 18136020 (20%) allocated to QIB, 13602015 (15%) allocated to NII,31738035 (35%) allocated to RII, NA (NA%) allocated to employees and 27204030 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 27204030 (30%)
QIB Shares Offered 18136020 (20%)
NII (HNI) Shares Offered 13602015 (15%)
bNII > ₹10L 9068010 (10%)
sNII < ₹10L 4534005 (5%)
Retail Shares Offered 31738035 (35%)
Total Shares Offered 90680100 (100%)
Tenneco Clean Air India IPO Documents
DRHP
RHP
ANCHOR
Tenneco Clean Air India IPO Details


Tenneco Clean Air India IPO is a book-built issue of ₹3600 crores, The total issue size is ₹3600 crores. The IPO of Tenneco Clean Air India is priced at ₹378-397 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Nov 12, 2025 and ends on Nov 14, 2025. The allotment for Tenneco Clean Air India IPO will be finalized on Nov 17, 2025. Tenneco Clean Air India IPO will be listed on BSE, NSE, with a tentative listing date fixed as Nov 19, 2025. The company shall list its equity shares on the BSE, NSE. MUFG Intime India Pvt.Ltd. is the registrar of the issue.

Retail investors can bid for a minimum of 37 shares, extendable to 14,689. S-HNIs will be able to bid for 518 shares at ₹2,05,646, while B-HNIs can also apply for a bid of 2,553 shares at ₹10,13,541. The book-running lead manager for the IPO is/are JM Financial Ltd, Citigroup Global Markets India Pvt.Ltd, Axis Bank Ltd, HSBC Securities & Capital Markets (India) Pvt.Ltd.

The total issue ₹3600 crore and having Offer for Sale (OFS) of 9,06,80,101 shares to mop up ₹3600 crore.

The Tenneco Clean Air India IPO sets its price band at 378-397 for each share. A single application for Tenneco Clean Air India Limited IPO must contain at least 37 shares. Sentiment investors need to invest a minimum of 37 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,689 In order to participate in the sNII, investors must purchase at least 14 lots of 518 shares for ₹2,05,646, while the bNII requires 69 lots of 2,553 shares for an investment of ₹10,13,541.

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Tenneco Clean Air India IPO Subscription Analysis And Details
Retail
5.36x
QIB
174.78x
NII
42.79x
bNII
49.38x
sNII
29.61x
Total
61.79x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 1,81,36,020 1,36,02,015
90,68,010    45,34,005 		3,17,38,035 6,34,76,070
Day 1 12-11-25 05:00 PM
0.01 x 1.17 x
1.09 x   1.33 x 		0.38 x 0.44 x
Day 2 13-11-25 05:00 PM
2.46 x 7.55 x
7.75 x   7.14 x 		1.52 x 3.08 x
Day 3 14-11-25 05:00 PM
174.78 x 42.79 x
49.38 x   29.61 x 		5.36 x 61.79 x
Total No of Applications
40,83,642
Subscription on the basis of Applications
Retail:4.27x BHNI:9.75x SHNI:28.19x
Tenneco Clean Air India Valuations
EPS Pre IPO ₹13.71/-
EPS Post IPO ₹16.66/-
P/E Pre IPO 28.97
P/E Post IPO 23.83
ROE 42.65%
ROCE 56.78%
RoNW 46.65%
PAT Margin 11.31%
Price to Book Value 12.77
Market Cap. 16023.09 Cr.
Tenneco Clean Air India Company Financials
In Crs.
In Cr.
30-Jun-25 31-Mar-25 31-Mar-24 31-Mar-23
Assets 2,918.77 2,831.58 2,136.26 2,429.65
Revenue 1,316.43 4,931.45 5,537.39 4,886.96
Profit After Tax 168.09 553.14 416.79 381.04
Net Worth 1,250.38 1,255.09 1,116.59 1,378.82
Reserves & Surplus 1,204.30 1,208.76 767.26 896.05
About Tenneco Clean Air India Company

Established in 2018, Tenneco Clean Air India Limited is a subsidiary of Tenneco Inc., which is a world leader in the design and manufacture of clean air and powertrain products for automotive. The company operates under the Clean Air division with a focus on emission control technologies for light and commercial vehicles.

Tenneco Clean Air in India offers sophisticated exhaust and after-treatment systems to enable vehicle makers to comply with tighter emission regulations like Bharat Stage VI. Its product offerings comprise catalytic converters, diesel particulate filters (DPFs), mufflers, and exhaust pipes.
It has strategically located manufacturing plants in India to serve OEMs and Tier 1 customers. It focuses on sustainability, innovation, and environmental regulatory compliance through cutting-edge R&D and engineering expertise.

As of March 31, 2025, the company have 12 plants, consisting of seven Clean Air & Powertrain Solutions plants and five Advanced Ride Technology plants, spread over seven states and a union territory in India.

Products:
The Clean Air & Powertrain Solutions business unit: Clean Air Solutions, Powertrain Solutions
The Advanced Ride Technologies business unit develops, manufactures and markets shock absorbers, struts and advanced suspension systems.

At March 31, 2025, the company employed 145 people in the design, engineering and R&D department.

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Tenneco Clean Air India - Promoter(s)

Tenneco Mauritius Holdings Limited

Tenneco (Mauritius) Limited

Federal-Mogul Investments B.V.

Federal-Mogul Pty Ltd

Tenneco LLC

Pre Issue Share Holding : 97.25%

Post Issue Share Holding : 74.79%

Tenneco Clean Air India IPO - Issue Objectives
1

Tenneco Clean Air India IPO - Anchor Investors

Tenneco Clean Air raises Rs 1,080 crore via anchor book ahead of Rs 3,600-crore IPO.

Tenneco Clean Air on Tuesday has finalized the allocation of 2.72 crore equity shares to anchor investors at the upper price band. Of which, 1.47 crore equity shares (54.15 percent of total anchor portion) were allotted to 17 domestic mutual funds including SBI Mutual Fund, ICICI Prudential MF, HDFC AMC, Kotak Mahindra AMC, Axis MF, Tata MF, Motilal Oswal AMC, Invesco, Quant Mutual Fund, Edelweiss and Sundaram Mutual Fund.

Other domestic institutional investors that became its shareholders were SBI Life Insurance, ICICI Prudential Life Insurance, HDFC Life Insurance, and Axis Max Life Insurance.

Further, the global investors who participated in the anchor book include Nomura Funds, Fidelity, BlackRock, Government Pension Fund Global, Abu Dhabi Investment Authority, and Goldman Sachs.

Tenneco Clean Air India IPO - Peers Comparison
P/B Ratio P/E Ratio RoNW Revenue(in Cr.)
Tenneco Clean N/A 29.0 46.6% 4890
Bosch N/A 57.3 15.5% 18087
Timken India N/A 49.2 17.0% 3147
SKF India N/A 19.2 21.4% 4919
ZF Commercial N/A 53.6 15.3% 3830
Sharda Motor N/A 9.6 30.4% 2836
Gabriel India N/A 75.9 22.4% 4063
Uno Minda N/A 75.1 18.3% 16774
Sona BLW N/A 14.7 14.7% 3546
Strength
Market-Leading Supplier: Tenneco Clean Air India is one of the leading suppliers of premium and highly engineered clean air, powertrain, and suspension solutions for leading Indian and global OEMs. It has held strong market shares across multiple automotive sub-segments. (FY2024)
Diversified Product Portfolio: The company provides a wide variety of proprietary and customized products-including catalytic converters, mufflers, exhaust pipes, engine bearings, sealing systems, spark plugs, and advanced suspension systems-aligned with emerging industry trends.
Strong Manufacturing Footprint: A total of 12 strategically located plants in India, supported by localized supply chains, enable the company to produce efficiently, bring down logistics costs, and ensure timely delivery to key automotive hubs across the country.
Weakness
The contract award programs do not contain fixed volume commitments from customers, which could result in a reduction in sales well below that anticipated and adversely impact financial performance.
Dependence on Emission Regulations: The business is heavily dependent upon government policies on emissions; delay or changed strategies on the implementation of stricter emission standards would lower demand for clean air and powertrain products.
Reliance upon the Tenneco Group: The company relies on the Tenneco Group for brand licenses, patented designs, technical know-how, and key materials. Any adverse change or termination of this relationship could affect operations and profitability.
Contact Details

Tenneco Clean Air India

RNS2, Nissan Supplier Park SIPCOT Industrial Park, Oragadam Industrial Corridor Sriperumbudur Taluk, Kancheepuram, Tamil Nadu, 602105

+91 124 4784 530

TennecoIndiaInvestors@tenneco.com

http://www.tennecoindia.com/

Registrar Contact Details

MUFG Intime India Private Limited (Link Intime)

+91-22-4918 6270

tennecocleanair.ipo@in.mpms.mufg.com

https://in.mpms.mufg.com/Initial_Offer/public-issues.html