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  1. Tenneco Clean Air IPO fully booked on Day 2; check category-wise subscription and key details

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Tenneco Clean Air IPO fully booked on Day 2; check category-wise subscription and key details

Upstox

3 min read | Updated on November 13, 2025, 13:47 IST

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SUMMARY

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.

Tenneco Clean Air India manufactures clean air, powertrain and suspension products to Indian OEMs and export markets. | Image: TennecoIndia.com

Tenneco Clean Air India manufactures clean air, powertrain and suspension products to Indian OEMs and export markets. | Image: TennecoIndia.com

Tenneco Clean Air IPO: Advanced emission control systems provider Tenneco Clean Air India Ltd's initial public offering was fully subscribed on Thursday, the second day of bidding.

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The initial share sale got bids for 9,38,68,297 shares, compared to 6,66,66,666 shares on offer, leading to 1.41 times subscription, as per information available on the NSE till 1:41 pm.

CategorySubscription Status
Qualified Institutional Buyers (QIBs)10%
Non-Institutional Investors4.10 times
Retail Investors1 times
Total1.41 times

The 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.

Since the issue is solely an OFS, the company will not get any proceeds from the IPO. All funds raised will go to the selling shareholder.

According to the red herring prospectus, the objective of the public offer is to achieve the benefits of listing.

Investors can bid for a minimum of 37 shares and in multiples thereof.

Tenneco Clean Air India manufactures and supplies critical, highly engineered, technology-intensive clean air, powertrain, and suspension solutions tailored for Indian original equipment manufacturers and export markets.

Prior to the IPO, the company raised ₹1,079.99 crore from anchor investors, including SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, SBI Life Insurance, Nomura Funds Ireland, ICICI Prudential Life Insurance, Fidelity, BlackRock, Norway's Government Pension Fund Global, Abu Dhabi Investment Authority and Goldman Sachs.

Shares of Tenneco Clean Air India will be listed on the bourses on November 19.

The IPO is being managed by JM Financial, Citigroup Global Markets India, Axis Capital and HSBC Securities and Capital Markets (India) Private Ltd.

Tenneco Clean Air IPO GMP

According to media reports and investorgain.com, unlisted shares of Tenneco Clean Air are trading at ₹485, reflecting a grey market premium of 22.17%, or ₹88, over the upper price band of ₹397.

Disclaimer: Grey Market Premium (GMP) is not regulated or recommended by the stock exchanges or SEBI. Upstox does not endorse or facilitate trading in the grey market. Investors are advised to conduct their own research or consult an expert before making any investment decisions.
With PTI inputs
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