Final Day! Tenneco Clean Air IPO GMP: What Does Grey Market Signal On Day 3 Of Subscription
The unlisted shares of Tenneco Clean Air India were trading at a premium in the private market; investors can expect potential gains of up to 20% when the stock debuts on the market next week.
Tenneco Clean Air India Ltd., which launched its initial public offering (IPO) to raise over Rs 3,500 crore from the primary market on November 12 will conclude its subscription process today, on November 14.
The mainboard offer was fully subscribed during the initial few hours on Thursday. The IPO was booked 4.72 times on Friday, so far.
The grey market premium (GMP) for the Tenneco Clean Air IPO has been fluctuating since the last few days, but still indicates a positive listing gain of nearly 20% per share over the issue price. Earlier, the GMP for the mainboard offer had declined by as much as 30% since Friday, November 7, when the grey market premium was Rs 87, but showed gains when the IPO opened on November 12. But has declined marginally since the last couple of days.
As bidding for the public issue concludes today, here are all the details you need to know about the initial public offering of Tenneco Clean Air.
Tenneco Clean Air India IPO GMP Today
The GMP for the Tenneco Clean Air India IPO stood at Rs 83 as of 10:30 a.m. on November 14. It indicates a potential listing price of Rs 480 per share, a premium of 20.91% compared to the upper limit of the IPO price band. This means that the unlisted shares were trading at Rs 480 in the private market.
The highest GMP recorded for the IPO was Rs 87 on November 7, whereas the lowest was Rs 55.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Tenneco Clean Air India IPO: All You Need To Know
Tenneco Clean Air India IPO is a book-building issue worth Rs 3,600 crore. It comprises entirely an offer-for-sale (OFS) of 9.07 crore shares.
The price band for the IPO has been set at Rs 378 and Rs 397 per share.
To participate in the IPO, retail investors must bid for a single lot size of 37 shares, requiring an investment of Rs 14,689. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,05,646. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 69 lots. It will lead to an investment of Rs 10,13,541.
JM Financial is the book-running lead manager and MUFG Intime India is the registrar for the issue.
Tenneco Clean Air India IPO Allotment And Listing Details
The Tenneco Clean Air India IPO share allotment status is expected to be finalised on November 17.
Investors who applied for the IPO can verify thier share allotment status on the websites of BSE, NSE and MUFG Intime India.
Shares of the company are tentatively scheduled to be listed on the BSE and NSE on November 19. The company will transfer shares to the demat accounts of successful bidders on November 18, and refunds to non-allottees will also be processed on the same day.
Tenneco Clean Air India IPO: Use Of Proceeds
The company will not receive any proceeds from the IPO as it is an entirely offer-for-sale issue.
About Tenneco Clean Air India
Tenneco Clean Air India, a key subsidiary of the US-headquartered Tenneco Group, is a Tier I automotive component supplier. The parent company reported a revenue of $16,777 million for the fiscal year ended Dec. 31, 2024.
Established in India in 1979 with its first manufacturing facility in Parwanoo, Himachal Pradesh, Tenneco Clean Air India specialises in manufacturing and supplying advanced, technology-driven clean air, powertrain and suspension solutions.
The company serves a diverse customer base across multiple vehicle segments, including passenger vehicles, commercial vehicles and industrial applications, such as generator sets, small commercial vehicles under 3.5 tonnes, two-wheelers and three-wheelers. Tenneco Clean Air India addresses the aftermarket through Motocare India Pvt., a subsidiary of Tenneco LLC.
Apollo Global Management acquired Tenneco in a $7.1 billion deal that was announced in February 2022 and completed in November 2022. The all-cash transaction resulted in Tenneco becoming a private company.
Financials
The company reported an 11.8% year-on-year (YoY) increase in profit after tax (PAT) at Rs 168.09 crore in Q1FY26 from Rs 150.31 crore in Q1FY25. Revenue from operations rose 1.17% YoY to Rs 1,285.62 crore in Q1FY26 from Rs 12,70.77 crore in Q1FY25.
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.
