Tenneco Clean Air Files Draft Papers For Rs 3,000-Crore IPO
Tenneco Clean Air India, a key subsidiary of the US-headquartered Tenneco Group, is a Tier I automotive component supplier.
Tenneco Clean Air India Ltd. filed its preliminary papers with the Securities and Exchange Board of India on Monday to raise up to Rs 3,000 crore via an initial public offering.
The public offer will include only an offer-for-sale component. Tenneco Mauritius Pvt. is the promoter who is offloading stake worth up to Rs 3,000 crore. The equity shares are proposed to be listed on the National Stock Exchange of India and BSE.
JM Financial Ltd., Citigroup Global Markets India Pvt., Axis Capital Ltd., and HSBC Securities and Capital Markets (India) Pvt. are the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.
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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.
Tenneco reported a consolidated revenue from operations of Rs 4,890 crore for fiscal 2025, as per the prospectus, in comparison to Rs 5,468 crore in fiscal 2024. The company's profit after tax was Rs 552 crore during the same period. In fiscal 2024, the net profit stood at Rs 417 crore.
