Today, Wednesday, November 12, 2025, is the opening day for subscriptions to Tenneco Clean Air India Ltd.’s initial public offering (IPO). India’s primary market has been active at the time of the IPO, notwithstanding the modest launches of previous listings.
The full offer for sale (OFS) of 9.07 crore shares is part of the book-built Tenneco Clean Air IPO, which is valued at Rs 3,600 crore. This implies that the company won’t get any new funding from the offering and that all proceeds will go to the selling shareholders.
Subscriptions for the Tenneco Clean Air IPO will be accepted through Friday, November 14, 2025.
The IPO’s price range is set between Rs 378 and Rs 397 per share. Retail investors must invest a minimum of Rs 14,689 at the higher price range, with a lot size of 37 shares. The minimum application is 14 lots (518 shares) worth Rs 2,05,646 for small non-institutional investors (sNII) and 69 lots (2,553 shares) worth Rs 10,13,541 for large NIIs (bNII).
MUFG Intime India Pvt. Ltd. is the issue’s registrar, while JM Financial Ltd. is the book-running lead manager.
RESPONSE FROM STRONG ANCHOR INVESTORS
On Tuesday, November 11, 2025, the business finished its anchor investor round, raising Rs 1,079 crore, before going public. According to its filing, Tenneco Clean Air India gave anchor investors more than 2.72 crore shares at a price of Rs 397 each.
The IPO has gotten off to a good start because to the significant anchor participation, which also shows institutional confidence in the company’s operations and future.
Tenneco Clean Air India Ltd. was established in 2018 and is a division of Tenneco Inc., a world leader in the development and production of powertrain and clean air solutions for the automotive sector. The business is part of the Clean Air division, which specializes on light and heavy vehicle emission control systems.
Catalytic converters, exhaust systems, diesel particulate filters, and mufflers are among its product offerings. Tenneco has a significant presence in both local and international markets and provides services to a broad spectrum of original equipment manufacturers (OEMs).
DO YOU NEED TO SUBSCRIBE?
The car component industry’s long-term prospects are still favorable, according to Mater Capital Services Ltd.
According to the brokerage’s analysis, “Auto component production (which includes sales to OEMs, exports, and the replacement market) has increased at a 13.4% CAGR to Rs 8,622 billion in fiscal 2025 from Rs 4,592 billion in fiscal 2020.”
It further stated that the industry is investing in new technology and local manufacturing skills as India moves toward advanced mobility solutions. Between FY25 and FY30, the sector is expected to increase at a 9–11% CAGR, reaching Rs 13,500–14,500 billion.
Additionally, Mater Capital emphasized Tenneco’s dominant position in the sector. Tenneco Clean Air India Ltd. is ideally positioned to take advantage of these chances. The company’s strong market presence, enduring OEM connections, and cutting-edge engineering capabilities allow it to sustain leadership in important markets. The brokerage stated that investors might view the IPO as a possible long-term investment opportunity.
MOST RECENT GMP
Tenneco Clean Air’s grey market premium (GMP) has seen positive trends, indicating positive investor confidence.
Based on the upper end of the pricing range, the GMP was Rs 61 as of November 12, 2025 (7:57 AM), suggesting an estimated listing price of Rs 458 per share. If the movement keeps up, this corresponds to a possible listing gain of 15.37% per share.
Investor excitement over the company’s fundamentals, robust anchor demand, and the clean transportation sector’s growth potential is reflected in a favorable GMP.
Investors with a medium to long-term view may find Tenneco Clean Air India’s IPO appealing due to the company’s well-established worldwide parentage, solid OEM agreements, and exposure to a developing auto component industry.
However, short-term investors might prefer to concentrate on listing performance rather than quick financial development from the proceeds because the issue is solely an offer for sale.
The listing on the BSE and NSE is set for November 19, with the allotment expected to be finalized on November 17.
