Tenneco Clean Air IPO enters the last day of bidding. Over the last two days, it saw a fairly steady response from investors. The grey market premium for the IPO has also seen a steady uptick. It is up 23% as of the last update.
Tenneco Clean Air IPO: Key details
The company aims to raise Rs 3,600 crore through a complete offer for sale of 9.07 crore shares. This means there is no fresh issue of shares, and the proceeds will go to the selling shareholders and promoters. The company has set the IPO price band between Rs 378- 397 per equity share. The IPO opened for subscription on November 12.
| Tenneco Clean Air IPO | Key Details |
| Price Band | Rs 378-397 per share |
| IPO Date | November 12- 14 |
| GMP | 23% |
| IPO Allotment date | November 18 |
| Listing date | November 19 |
Tenneco Clean Air IPO: High GMP trend
The grey market premium for the IPO has been rising. As of the last update, the shares were witnessing a 22% GMP, indicating the issue may list at a premium compared to the upper end of the issue price – Rs 397 per share.
Tenneco Clean Air IPO: Allotment and listing
The IPO allotment is likely to be finalised on November 18, while the listing on BSE and NSE is likely to be on November 19, as per the tentative schedule. JM Financial, Citi Global Markets, Axis Capital, and HSBC Securities are the lead book runners, while MUFG is the registrar to the offer.
Tenneco Clean Air IPO Day 3 Highlights: Check here for Live Coverage on Tenneco Clean Air IPO subscription status, GMP, Share Price, Price Band, Review
LIVE: Tenneco Clean Air IPO subscribed over 60 times on Day 3; GMP up 24.94%
Tenneco Clean Air IPO subscribed over 60 times on its third day, GMP was up 24.94%
Keep checking the Financial Express Live space for real-time updates from 9:00 AM on November 15, 2025, onward.
The Tenneco Clean Air IPO drew exceptionally strong interest by the close of Day 3, with overall bids reaching 61.79 times the shares on offer (excluding the anchor portion). The report showed that institutional participation drove the surge, as the QIB segment was booked 174.78 times, far ahead of all other categories. Non-institutional buyers submitted bids 42.79 times their allocation, with large-ticket bNII applications at 49.38 times and smaller sNII bids at 29.61 times. Retail investors remained active as well, taking their portion to 5.37 times. In total, the IPO drew 40,52,438 applications, with bids amounting to more than 3.92 billion shares against the 6.34 million shares available for subscription at the upper end of the price band.
Keep checking the Financial Express Live space for real-time updates from 9:00 AM on November 15, 2025, onward.
Tenneco Clean Air IPO Subscription Status, GMP Live: Tenneco's business growth strategies
The company aims to capitalize on the rise of electric vehicles, premium SUVs, and tightening emission standards through focused R&D. The company aims to enhance competitiveness through "Make in India" initiative to establish an export hub while cross-selling across divisions and improving operational efficiency to drive profits.
Tenneco Clean Air IPO Subscription Status, GMP Live: Tenneco's business wings across India
The company currently operates 12 manufacturing facilities across the country. Of this 7 comprise of its Clean Air and Powertrain Solutions business division and 5 are of Advanced Ride Technologies wing. For FY25, 91% of the company's material costs were sourced domestically.
Tenneco Clean Air IPO Subscription Status, GMP Live: Uncertainty around US sales
Uncertainty looming around the US tariffs on Indian goods are likely to affect the company's revenue generation. "We may face increased tariffs on our products, driving up our products’ prices, undermining our competitiveness and impacting our profit margins," the company said in its DRHP. For FY25, the company generated revenue worth Rs 77 crore from sales to US.
Tenneco Clean Air IPO Subscription Status, GMP Live: Tenneco' promoter group
As per Tenneco's DRHP, upon the completion of the ongoing OFS, the company's promoters will continue to hold a majority of the equity share capital, exercising significant control over the company. The company is currently going through an OFS, where the promoters are selling a portion of their existing shares to the public rather than the company issuing new shares
The IPO allotment for Tenneco is expected to be finalised on November 18, while the listing on BSE and NSE is likely to be on November 19. JM Financial, Citi Global Markets, Axis Capital, and HSBC Securities will handle Tenneco’s IPO, while MUFG is the registrar to the offer.
Tenneco Clean Air IPO Subscription Status, GMP Live: Tenneco's product portfolio
Tenneco's product portfolio comprises wide range of products for specific industry subsegments including passenger vehicles, commercial vehicles, Off-highway equipment and industrial application. Additionally, the company sells products to the aftermarket and for export.
Tenneco Clean Air IPO Subscription Status, GMP Live: Strong subscription by NIIs
Tenneco's IPO has been subscribed 7.03 times so far as the last day
of bidding continues. The NII segment has seen a very strong subscription at 18.94 times. QIB segment has been subscribed 5.88 times, while the retail segment has been subscribed 2.58 times.
Tenneco Clean Air IPO Subscription Status, GMP Live: Freight costs and supply concerns
For FY25, the company incurred freight and forwarding costs worth Rs 33.2 crore, and outsourced manufacturing costs worth Rs 33.3 crore. The company in its DRHP said that it could be subjected to transportation strikes which can further hamper with its supplies and deliveries.
Tenneco Clean Air IPO Subscription Status, GMP Live: Tenneco's product liability claims
For FY25, the company incurred an expenditure of Rs 5.9 crore for product warranties and product liability claims. "Costs and expenses associated with warranties, product recalls and product liability claims could have a material adverse impact on our results of operations and financial condition," the company said in its DRHP
Tenneco Clean Air IPO Subscription Status, GMP Live: Tenneco's IPO details
Tenneco's IPO is completely OFS and all the proceeds will go to the selling shareholders. The OFS of Tenneco Clean Air India involved the sale of 9.07 crore equity shares, worth Rs 3,600 crore. The net proceeds from the sale will go to the promoters.
Tenneco Clean Air PO Subscription Status, GMP Live: High dependency on CV and PV
For FY25, the company derived 82% of its revenue from operation from the passenger vehicle and commercial vehicle sector in India.
"Any adverse changes in these sectors in India could adversely impact our business, results of operations and financial conditions," the company said in its DRHP.
Tenneco Clean Air PO Subscription Status, GMP Live: Dependency on raw materials
For its business operations and profitability the company is heavily dependent on cost and availability of raw materials like steel and components like electrodes, bimetal strips, etc. "Any volatility in the prices of these materials may adversely impact our business, results of operations and financial condition," the company said in its DRHP.
Tenneco Clean Air PO Subscription Status, GMP Live: Tenneco's Q1FY26 revenue generation
For Q1FY26, the company generated a total revenue of Rs 1,285.6 crore in its two business divisions. Clean Air and Power Trains Solutions generated revenue worth Rs 723.5 crore, while its second division Advanced Ride Technologies generated revenue worth Rs 562.1 crore.
Tenneco Clean Air PO Subscription Status, GMP Live: Tenneco's business divisions
Tenneco operates two primary divisions: Clean Air and Powertrain Solutions where it sells its products to original equipment manufacturers and Power Train Solutions in which it sells ignition products to OEMs under the ‘Champion’ brand, while the second division is Advanced Ride Technologies which provides suspension products like shock absorbers and struts under the ‘Monroe’ brand for all vehicle types.
Tenneco Clean Air PO Subscription Status, GMP Live: High dependency on customers
Tenneco Clean air is highly dependent on its customer base. For FY25, the company's top 10 customers contributed nearly 82% of its revenue from operation.
"If one or more of these customers chooses not to source products from us, our business, financial condition and results of operations may be adversely affected," the company said in its DRHP
Tenneco Clean Air PO Subscription Status, GMP Live: Financial details Q1FY26
For Q1FY26, the company generated a revenue of Rs 1,266 crore with an EBITDA of Rs 229 crore. The company's profit for the same quarter was Rs 168 crore which marks a profit margin of 13.1%.
Tenneco Clean Air PO Subscription Status, GMP Live: SBI Securities recommends Subscribe
SBI Securities recommends “subscription to Tenneco's IPO.”
At upper price band of Rs 397, the issue is valued at FY25 P/E and EV/EBITDA multiple of 29.0x and 19.3x respectively.
Tenneco Clean Air IPO Subscription Status, GMP Live: Tenneco's Indian market
According to SBI Securities, Tenneco India was the largest supplier of clean air solutions to Indian Commercial Truck with a market share of 57%, and also for Off-Highway original equipment manufacturer with a market share of 68%.
Tenneco Clean Air IPO Day 3 Live Updates: GMP trending higher
The GMP for Tenneco IPO is one of the highest in recent times. The current GMP on Day 3 is indicating 19% premium. This shows that investors expect a big listing gain for the Tenneco IPO. However, one must remember that the GMP is an unofficial metric and the actual listing price may vary largely
Tenneco Clean Air India is the Indian subsidiary of the US-based Tenneco Group. The company manufactures and supplies clean-air powertrain, and suspension solutions for Indian and international original equipment manufacturers.