Tenneco Clean Air IPO Listing: Check Date, GMP, Expected Share Price Ahead Of D-Street Debut
Tenneco Clean Air Expected Listing Price: Based on the current GMP, investors can expect the stock to debut at a premium of around 30–31%.
The IPO of Tenneco Clean Air India Ltd., which concluded its subscription on Friday, will debut on the stock market this week. The share allotment status for the Tenneco Clean Air India IPO was finalised on Monday. Successful bidders will be allotted the shares on Tuesday.
Shares of Tenneco Clean Air India Ltd. will list on the BSE and NSE on Wednesday, November 19.
Ahead of its listing, the grey market premium, an unofficial barometer of the expected share price, soared to a new high, rising 42% 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 31% per share over the issue price.
The IPO of the Tamil Nadu-based manufacturer of clean air and powertrain products for automotive applications was oversubscribed 58.83 times (led by demand from QIBs), with investors bidding for over 3921 crore shares against 666.66 crore shares on offer.
Tenneco Clean Air IPO GMP Today
The grey market premium for the Tenneco Clean Air India IPO was Rs 121 as of 7:00 a.m. on Tuesday, indicating a 30.48% premium over the IPO price band.
This means that the unlisted shares of the company were trading at Rs 518 in the private market. Investors who are successfully allotted the company's shares can expect a listing gain of up to 31% when the stock lists on November 18.
The highest GMP recorded for the IPO was Rs 123 and the lowest was Rs 55, recorded on November 10.
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.
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.
