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 22% 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 | 22% |
| 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 Live Updates: Check here for Live Coverage on Tenneco Clean Air IPO subscription status, GMP, Share Price, Price Band, Review
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.