Tenneco Clean Air IPO

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subscribed

Tenneco Clean Air IPO

closed
₹13,986Min. investment
  1. Pre-apply
    10 Nov
  2. Bid start
    12 Nov
  3. Bid end
    14 Nov
  4. Allotment
    17 Nov
  5. Release of funds
    18 Nov
  6. Demat transfer
    18 Nov
  7. Listing
    19 Nov

About Tenneco Clean Air Limited

Price range₹378 – ₹397
IPO type
Regular
Lot size37 shares
Issue size₹3,600Cr
Draft Red Herring Prospectus
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Tenneco Clean Air Limited IPO Overview

Tenneco Clean Air Limited IPO date

Tenneco Clean Air Limited IPO will open for subscription on November 12, 2025, and the closing date for the IPO is November 14, 2025. After this, investors are expected to be updated about the allotment status on November 17, 2025.

Investors who have been allotted shares can expect them to be credited to their demat account on November 18, 2025. The shares will be listed on the NSE and the BSE on Wednesday, November 19, 2025.

Tenneco Clean Air Limited IPO price band

The IPO is complete offer for sale. The IPO price band has been set between ₹378 to ₹397 per share. Interested investors can choose a price within this band to apply for the IPO.

The IPO is a book-building issue, comprising an offer for sale of ₹3,600 crore. Tenneco Clean Air Limited's IPO listing price will be determined on November 19, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.

Tenneco Clean Air Limited IPO lot size

Tenneco Clean Air Limited IPO details have been declared. The minimum lot size for an application is 37 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹3,600 crore.

Checklist

Quality analysis
Revenue growth
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Earnings expansion
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Objectives

Carry out the offer for sale
The IPO is a complete offer-for-sale (OFS). Net IPO proceeds will go to selling shareholders.
Listing on stock exchanges
The company want to achieve the benefits of listing its shares on the stock exchanges.

Strength and Weakness

Market leadership in clean air solutions

In FY25, it commanded a 57% share in clean air solutions for commercial transport and 68% in off-highway vehicles, besides being among the top four suppliers for passenger vehicles at 19% market share. It also leads the shock absorbers and struts segment with a 52% share in PVs. The company served 101 OEM customers as of June 2025, including all top seven PV and top five CT OEMs in India.

Diversified portfolio

The company’s dual business verticals-clean air & powertrain solutions and advanced ride technologies accounted for 56.28% % and 43.72% as of June 2025, respectively. Its product mix spans across catalytic converters, bearings, sealings, spark plugs, and suspension systems. The company caters to PV, CV, and industrial segments with revenue contribution of 63.87% from PV, 22.76% from CV, and 6.11% from industrial/others as of June 2025. The inclusion of aftermarket and exports provides a natural hedge against cyclicality and strengthens earnings resilience.

Innovation-focused approach and R&D strength

Backed by the global Tenneco Group’s 5,000+ patents and 7,500 trademarks, the company benefits from shared innovation and cross-deployed technologies. Its two India-based R&D centres in Pune and Hosur are equipped for simulation, testing, and prototyping for localised solutions. Notable achievements include the first electronic suspension system for Mahindra EVs and the development of 45 BS6-compliant products across 26 platforms in just 13 months, reflecting strong innovation speed and adaptability to evolving emission norms.

Strategically located manufacturing and supply chain network

The company has 12 manufacturing facilities across 7 states and 1 union territory, including major hubs in Maharashtra, Tamil Nadu, NCR, and Gujarat. It operates seven clean air & powertrain solutions facilities and five advanced ride technology facilities, as of June 30, 2025. Further, 83.54% of its raw materials (excluding substrates) were sourced domestically in FY25, optimising costs and mitigating import dependence. Its automated plants deliver 99%+ on-time delivery and defect rates below 2 parts per million, highlighting strong operational discipline.

About Tenneco Clean Air Limited

Tenneco Clean Air India is one of India’s leading manufacturers and suppliers of automotive clean air solutions, powertrain systems and advanced ride performance solutions. The company is part of US- headquartered tier I automotive component supplier, Tenneco Group The company operates primarily through two divisions- clean air & powertrain solutions and advanced ride technologies. Its portfolio includes exhaust aftertreatment systems, mufflers, catalytic converters, shock absorbers, and struts catering to passenger vehicle (PV), commercial vehicle (CV), off-highway, and industrial applications.
The clean air & powertrain solutions segment contributed 56.28% of total revenue in the three months ended June 30, 2025, and advanced ride technologies contributed 43.72%. The company is the largest supplier of clean air solutions to Indian commercial trucks (CT) OEM (57% market share), Indian off-highway (OH) vehicles OEMs, excluding tractors, (68%), among the top four suppliers of clean air solutions to Indian passenger vehicles (PV) OEMs (19% market share) and the largest supplier of shock absorbers and struts to Indian PV OEMs, with a market share of 52%. As of June 30, 2025, the company has 12 manufacturing facilities spread across 7 Indian states and 1 union territory, including seven clean air & powertrain solutions facilities and five advanced ride technology facilities. The facilities are located near the key automotive OEM hubs such as Maharashtra and Tamil Nadu and equipped with automated assembly lines, robotic welding units, and testing infrastructure designed to meet stringent emission and safety regulations. It is supported by a localised supply chain with 83.05% of raw materials sourced domestically, which helps the company achieve cost efficiencies.
The company's operations are significantly influenced by domestic OEM demand. PV OEMs made up 61.26% of revenue in FY25, while CV OEMs made up 20.78%. The remaining 17.96% came from other segments like exports, industrial machinery, 2and 3-wheelers, and aftermarket services. As of June 2025, it had served 101 customers, including all five of India's leading CT OEMs and all seven of India's leading PV OEMs. The average relationship tenure of these key clients is 19.2 years, demonstrating the company's established reputation as a trustworthy supplier. Beyond OEM supply, the company also serves the aftermarket segment through Motocare India Private Limited, an indirect subsidiary of the Tenneco Group. This channel enables the company to extend its product lifecycle beyond OEM sales, while benefiting from Motocare’s established distribution and marketing network across India.
The auto component market size is expected to grow at a 9-11% CAGR between FY25 and FY30 to reach ₹13,500-₹14,500 billion, driven by an increase in production off-take across all vehicle segments, which will support growth in the OEM market. The clean air solution market specifically is expected to grow at a CAGR of 8-10% between FY25-30 to reach ₹79,500-87,500 million. Tenneco Clean Air which has market leadership position in domestic clean air solution market across different categories is well positioned to capture this growth.
The company aims to capitalise on the increasingly stringent global and regional emission standards, enhance competitiveness through strategic localisations and continue to focus on its R&D and innovation.
Now, Tenneco Clean Air Ltd is launching its initial public offering (IPO), which consists of an offer for sale of ₹3,600 crore. Its shares will be listed on the NSE and BSE.

IPO Analysis

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Tenneco Clean Air IPO
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IPO Subscription Status

Date
QIB
NII
Retail
Total
12-Nov-25
0.04 times (X)
1.11 times (X)
0.36 times (X)
0.57 times (X)
13-Nov-25
22.21X
7.14X
1.45X
3.95X
14-Nov-25
758.32X
40.37X
4.99X
79.1X

Latest News on IPO

news logo
Apollo Global Management Inc. is considering listing auto-parts supplier Tenneco Inc.’s India business, people familiar with the matter said, joining others that have done or plan initial public offerings of their units in the world’s most populous country. An IPO might raise $400 million to $500 million, the people said.
news logo
The ₹3,600-crore IPO will be opened for public subscription next week on November 12 and conclude on November 14

2 min read

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Tenneco Clean Air IPO Day 1: The ₹3,600 crore initial share sale, with a price band of ₹378 to ₹397 per share, is exclusively an offer for sale (OFS) of 9.07 crore shares by promoter Tenneco Mauritius Holdings Limited. There is no fresh issue component.

3 min read

news logo
Tenneco Clean Air India IPO, with a price band of ₹378 to ₹397 per share, is only an offer-for-sale of ₹3,600 crore by promoter Tenneco Mauritius Holdings Ltd, with no fresh equity issuance.

3 min read

news logo
Tenneco Clean Air IPO: The ₹3,600 crore initial share sale is an offer-for-sale by promoter Tenneco Mauritius Holdings Limited. There is no fresh issue component.

3 min read

Frequently asked questions

How to invest in the IPO?

Investors can apply for the IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Tenneco Clean Air IPO ?

The issue size of the Tenneco Clean Air IPO is 3600 Cr.

What is 'pre-apply' for Tenneco Clean Air IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Tenneco Clean Air IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Application closed