⁠IPO GMP Today: Tenneco Clean Air Vs PhysicsWallah Vs Emmvee Photovoltaic Power – Check Grey Market Trends

Primary market investors are keeping a watch on the grey market premiums (GMPs) of three active mainboard initial public offerings (IPOs). These include the IPOs of PhysicsWallah, Emmvee Photovoltaic Power and Tenneco Clean Air. While bidding for the IPOs of PhysicsWallah and Emmvee Photovoltaic Power began on November 11, Tenneco Clean Air’s public offer opened for subscription today (November 12).

Grey market trends serve as a key indicator of investor interest in these IPOs. Here’s what the current grey market premium (GMP) suggests for the three mainboard issues currently open for bidding.

The GMP for the Tenneco Clean Air IPO stood at Rs 75 per share as of 12:30 p.m. on November 12. Based on the upper end of the price band of Rs 397, the estimated listing price for the IPO stands at around Rs 472. The latest GMP indicates a potential listing gain of 18.89% per share.

About Tenneco Clean Air India IPO

The Tenneco Clean Air IPO is a book-built issue worth Rs 3,600 crore. The entire issue is an offer-for-sale (OFS) of 9.07 crore shares.

The price band for the Tenneco Clean Air IPO has been set between Rs 378 and Rs 397 apiece. Retail investors need to apply for at least a single lot size of 37 shares, requiring a minimum investment of Rs 14,689.  

According to BSE data, the IPO was booked 0.2 times as of 1:21 p.m. on Wednesday.

The subscription window for the Tenneco Clean Air IPO is open till Nov. 14. The basis of allotment is expected to be finalised on Nov. 17, followed by the initiation of refunds and credit of shares to demat accounts on Nov. 18. The company’s shares are scheduled to be listed on the BSE and NSE on Nov. 19.

Incorporated in 2018, Tenneco Clean Air India Ltd. is a subsidiary of Tenneco Inc., a manufacturer of clean air and powertrain products for the auto industry. The company focuses on emission control technologies for light and commercial vehicles.

According to InvestorGain, the GMP for PhysicsWallah IPO stood at Rs 2.25 per share at 1:00 p.m. on Nov. 12. Based on the upper price band of Rs 109, the IPO’s estimated listing price stands at around Rs 111.25 per share, indicating a potential gain of 2.06%.

About Physics Wallah IPO

The PhysicsWallah IPO is a book-building issue worth Rs 3,480 crore. It includes a fresh issue of 28.44 crore shares totalling Rs 3,100 crore and an OFS portion of 3.49 crore shares, amounting to Rs 380 crore.

The IPO price band has been set between Rs 103 and Rs 109 per share. A lot consists of 137 shares, requiring a minimum investment of Rs 14,933 for retail investors.  

According to BSE data, the IPO was booked 0.11 times as of 1:21 p.m. on Wednesday.

The IPO price band has been set between Rs 103 and Rs 109 per share. A lot consists of 137 shares, requiring a minimum investment of Rs 14,933 for retail investors.  

The PhysicsWallah IPO subscription window closes on Nov. 13. The mainboard issue has been booked only 0.09 times so far on the second day of bidding on Wednesday, NSE data till 10:30 a.m. showed.

The company is expected to finalise the IPO share allotment status on Nov. 14. Refunds and transfer of shares to the demat accounts will be initiated on Nov 17. Shares of Physicswallah are tentatively set to be listed on the BSE and NSE on Nov. 18.

PhysicsWallah is an edtech company offering test preparation courses for competitive exams such as JEE, NEET and UPSC.

The GMP for the Emmvee Photovoltaic IPO stood at Rs 5 per share at 1:00 p.m. on Nov. 12, according to InvestorGain. The latest GMP indicates a potential listing price of Rs 222 apiece, at a premium of 2.3% over the upper band of the issue price of Rs 217 per share.  

About Emmvee Photovoltaic Power IPO

The Emmvee Photovoltaic IPO, worth Rs 2,900 crore, is a combination of a fresh issue of 9.88 crore shares, amounting to Rs 2,143.86 crore and an OFS of 3.48 crore shares, aggregating Rs 756.14 crore.

The IPO price band has been set between Rs 206 and Rs 217 per share. A single lot consists of 69 shares, requiring a minimum investment of Rs 14,973 for retail investors.

According to BSE data, the IPO was booked 0.12 times as of 1:20 p.m. on Wednesday.

The subscription period for the Emmvee Photovoltaic IPO closes on Nov. 13. The mainboard issue has been overall subscribed 0.11 times on the second day of bidding on Nov. 12, as the NSE data till 10:30 a.m.

The IPO share allotment status is expected to be finalised on Nov. 14. This would be followed by refunds and credit of shares to the demat accounts on Nov. 17.

The company’s shares are tentatively scheduled to be listed on the BSE and NSE on Nov. 18, 2025.

Emmvee Photovoltaic Power Ltd., incorporated in March 2007, is engaged in the manufacturing of solar PV modules and solar cells.

Note: GMP does not represent official data and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.