The IPO pipeline is red hot, and one more issue has opened today for subscription. Tenneco Clean Air IPO will raise Rs 3,600 crores from the primary markets. The issue is entirely an offer for sale of 9.07 crore shares, which means the raised funds will go to the bank accounts of selling shareholders and promoters.
Tenneco Clean Air IPO: Allotment and listing
The company has kept the IPO price band between Rs 378 and Rs 397 per equity share. The IPO will close the bidding on November 14. The allotment for the shares is expected to be finalised on November 17, while the listing of stocks on the exchanges, BSE and NSE, is likely to be on November 19, as per the tentative schedule.
Tenneco Clean Air IPO: GMP price
The share price of Tenneco Clean Air was changing hands at a premium of 15.4% in the grey market. This implies that the stocks were trading at Rs 458, indicating a gain of Rs 2,257 on one lot.
However, the grey market is an unofficial place where shares trade illegally ahead of an IPO.
Tenneco Clean Air IPO: Lot size
A retail buyer can bid for a minimum of one lot that contains 37 shares, amounting to Rs 14,689. The lot size investment for a small NII is 14 lots of 518 shares, totalling Rs 2 lakh, and for a big NII, it is 69 lots of 2,553 shares, summing up to Rs 10 lakh.
Tenneco Clean Air IPO: Book manager and registrar
JM Financial is the book-running lead manager for the IPO, and MUFG Intime India is the registrar of the issue.
About Tenneco Clean Air
Tenneco Clean Air India is a subsidiary of Tenneco Inc., a global leader in designing and manufacturing clean air and powertrain products for automotive applications. The company operates within the Clean Air division, focusing on emission control technologies for both light and commercial vehicles.
In India, Tenneco Clean Air provides advanced exhaust and after-treatment systems, helping vehicle manufacturers meet increasingly stringent emission norms such as Bharat Stage VI. Its product portfolio includes catalytic converters, diesel particulate filters (DPFs), mufflers, and exhaust pipes.
