The IPO launch of Tenneco Clean Air India Ltd commenced today, Wednesday, November 12, 2025, marking a significant event in India’s active primary market landscape. The offering, valued at Rs 3,600 crore, is solely an offer for sale (OFS) of 9.07 crore shares, with all proceeds directed to the selling shareholders.
Investors can subscribe to the Tenneco Clean Air IPO until Friday, November 14, 2025. The price range for the IPO is set at Rs 378 to Rs 397 per share, with a lot size of 37 shares for retail investors, requiring a minimum investment of Rs 14,689 at the upper end. Small non-institutional investors (sNII) need to apply for a minimum of 14 lots (518 shares), equivalent to Rs 2,05,646, while big NIIs (bNII) are required to apply for 69 lots (2,553 shares), amounting to Rs 10,13,541.
JM Financial Ltd is the book-running lead manager, with MUFG Intime India Pvt. Ltd serving as the issue’s registrar.
The company successfully concluded its anchor investor round on November 11, 2025, raising Rs 1,079 crore by allocating over 2.72 crore shares at Rs 397 per share to anchor investors. This strong anchor participation reflects institutional confidence in Tenneco Clean Air India’s business and future prospects.
Established in 2018, Tenneco Clean Air India Ltd, a subsidiary of Tenneco Inc, specializes in designing and producing clean air and powertrain products for the automotive industry. The company focuses on emission control technologies for both light and heavy vehicles, offering a range of products such as catalytic converters, mufflers, diesel particulate filters, and exhaust systems to various original equipment manufacturers (OEMs) in domestic and export markets.
Analysts at Mater Capital Services Ltd highlight the positive long-term outlook for the auto component industry, projecting steady growth fueled by investments in new technologies and local manufacturing capabilities. Tenneco Clean Air India’s strong market position, established OEM relationships, and advanced engineering capabilities make it an attractive long-term investment opportunity, as stated by Mater Capital.
The grey market premium (GMP) for Tenneco Clean Air indicates a positive investor sentiment, with a GMP of Rs 61 as of November 12, 2025, suggesting a potential listing price of Rs 458 per share. Given the company’s global parentage, strong OEM partnerships, and exposure to a growing auto component market, the IPO presents an appealing opportunity for investors with a medium to long-term investment horizon.
The final allotment is expected on November 17, with the listing scheduled for November 19 on both the BSE and NSE. It is advisable for investors to consult with a qualified broker or financial advisor before making any investment decisions.
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