As the IPO season continues to buzz, another auto-component player is gearing up to open its initial public offering (IPO). Tenneco Clean Air India, a subsidiary of the US-based Tenneco Group, is all set to hit the primary market next week.
The company, known for its clean air and powertrain systems, will open its public issue on Wednesday, November 12. Ahead of its official opening for bidding, let’s take a look at key details investors should know before subscribing to the issue.
Tenneco Clean Air India IPO: Subscription window from November 12 to 14
The Tenneco Clean Air India IPO will open for subscription on November 12 (Wednesday) and close on November 14 (Friday).
Prior to the bidding process, the company will finalise allocations for anchor investors on November 11 (Tuesday).
Tenneco Clean Air India IPO: Price band, GMP
The price band for the issue has been fixed between Rs 378-397 per share with a face value of Rs 10. Retail investors can bid for a minimum of 37 shares per lot, and in multiples thereafter. The GMP is currently up 24% as of November 7, 12 noon. However, the GMP is an unofficial metric of investor sentiment and can fluctuate significantly. Just to remind our readers, the final listing price could vary significantly from the GMP.
Tenneco Clean Air India IPO: Entire OFS, No fresh issue
Tenneco’s offer is purely an Offer-for-Sale (OFS) by its parent, Tenneco Mauritius Holdings. In simple terms, this means that the company itself will not receive any proceeds from the issue. The funds will go directly to the promoter entity.
Tenneco Clean Air India IPO: Issue size and allocation
The IPO size has been revised upward to Rs 3,600 crore, higher than the Rs 3,000 crore proposed earlier in its draft papers filed in June 2025.
The allocation structure follows the standard format –
- QIBs – up to 50%
- NIIs – at least 15%
- Retail investors – at least 35%
Tenneco Clean Air India IPO: Key listing and allotment dates
The basis of allotment will likely be finalised on November 17 (Monday).
Refunds for non-allottees and credit of shares to demat accounts are expected on November 18 (Tuesday). The stock is expected to make its market debut on November 19 (Wednesday) on both BSE and NSE.
Tenneco Clean Air India IPO: Key players of the issue
The IPO is being handled by a consortium of leading merchant bankers. These include JM Financial, Citigroup Global Markets India, Axis Capital, and HSBC Securities and Capital Markets (India). The registrar of this mainboard issue is MUFG Intime India.
Tenneco Clean Air India IPO: About the company
Tenneco Clean Air India manufactures clean air, powertrain, and suspension systems for both Indian and global original equipment manufacturers (OEMs). It operates 12 manufacturing plants across India and also markets aftermarket products through its arm Motocare India.
The company is a key supplier of clean air solutions for commercial trucks and shock absorbers and struts for passenger vehicles, serving both domestic and export markets.