Tenneco Clean Air IPO: Check GMP, Allotment Status And Listing Date

The initial public offering (IPO) of Tenneco Clean Air India Ltd. closed with a strong subscription on the last day of bidding on Friday. The IPO of the Tamil Nadu-based manufacturer of clean air and powertrain products for automotive applications was oversubscribed 58.83 times, with investors bidding for over 3921 crore shares against 666.66 crore shares on offer.

QIBs led the demand for the public issue, subscribing over 166 times. Non-institutional investors subscribed 40.74 times, whereas the retail investors' portion was oversubscribed 5.11 times.

The GMP for the public issue has continued to soar to a new high ahead of its listing this week, rising 47% from the day the IPO was launched. The grey market premium (GMP) for the Tenneco Clean Air India IPO indicates a positive listing gain of nearly 32% per share over the issue price.

After the successful subscription, investors are awaiting the finalisation of the IPO share allotment status.Tenneco Clean Air India is expected to finalise the allotment status for the IPO on Monday, November 17.

Investors who applied for the Tenneco Clean Air India IPO can check the share allotment status on the official websites of the BSE and the issue registrar, MUFG Intime India Ltd.

1.  Open the BSE IPO allotment page here - https://www.bseindia.com/investors/appli_check.aspx.

2.  Select ‘Equity’ as the issue type. 

3.  Choose "Tenneco Clean Air India Ltd." from the dropdown menu. 

4.  Enter details for any of these two options: PAN and application number.

5.  Complete the Captcha verification.  

6.  Hit the ‘Search’ button to view your allotment status.

• Visit the IPO allotment status page on the NSE website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Select ‘Equity & SME IPO bid details’.

• Select "TENNIND" as the issue symbol.

• Enter PAN and Application Number.

• Click on the ‘Submit’ button. 

1. Visit the IPO allotment status page on the MUFG Intime website - https://in.mpms.mufg.com/Initial_Offer/public-issues.html.

2. Select "Tenneco Clean Air India Ltd." from the dropdown list for company names.

3. Choose your preferred search method – Application Number, DP/Client ID, PAN, or Account/IFSC.

4. Enter the relevant details as per your selection.

5. Complete the CAPTCHA verification.

6. Click Submit to view your allotment status.

The grey market premium for the Tenneco Clean Air India IPO was Rs 125 as of 10:30 a.m. on Monday, indicating a 31.49% premium over the IPO price band.

This means that the unlisted shares of the company were trading at Rs 522 in the private market. Investors who are successfully allotted the company's shares can expect a listing gain of up to 31.49% when the stock debuts this week.

This is the highest GMP recorded for the IPO; the lowest GMP was Rs 55 on November 10.

Shares of Tenneco Clean Air India Ltd. are tentatively scheduled to be listed on the BSE and NSE, on Wednesday, 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.

The company will not receive any proceeds from the IPO as it is an entirely offer-for-sale issue.

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.

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.