Tenneco Clean Air India Secures ₹1,080 Crore from Anchor Investors Ahead of IPO
Tenneco Clean Air India Ltd., a Tier I automotive component supplier, has raised ₹1,080 crore from 41 global and domestic funds as anchor investors for its upcoming IPO. The company allocated 2.72 crore shares at ₹397 per share, with domestic mutual funds receiving 54.15% of the allocation. The IPO, set to open on November 12 and close on November 14, aims to raise ₹3,900 crore through an Offer for Sale (OFS) with a price band of ₹378-₹397 per share.
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Tenneco Clean Air India Ltd., a Tier I automotive component supplier, has successfully raised ₹1,080 crore from anchor investors as it prepares for its initial public offering (IPO). This development marks a significant step in the company's journey to go public, attracting substantial interest from both domestic and global investors.
Anchor Book Highlights
The anchor book for Tenneco Clean Air India's IPO has drawn participation from 41 global and domestic funds. Some of the notable investors include:
- SBI Mutual Fund
- ICICI Prudential Mutual Fund
- HDFC Mutual Fund
- Kotak Mahindra Mutual Fund
- BlackRock Global Funds
- Goldman Sachs Funds
Allocation Details
| Particulars | Details |
|---|---|
| Total Shares Allotted | 2.72 crore |
| Price per Share | ₹397.00 |
| Domestic Mutual Funds Allocation | 54.15% |
IPO Overview
| IPO Details | Information |
|---|---|
| Total IPO Size | ₹3,900.00 crore |
| Opening Date | November 12 |
| Closing Date | November 14 |
| Price Band | ₹378.00 - ₹397.00 per share |
| Issue Type | Offer for Sale (OFS) |
It's important to note that as this is an entirely offer-for-sale issue, the company will not receive any proceeds from the IPO.
About Tenneco Clean Air India
Tenneco Clean Air India is a subsidiary of the US-headquartered Tenneco Group. The company specializes in manufacturing advanced clean air, powertrain, and suspension solutions for the automotive industry.
Market Impact
The strong response from anchor investors could potentially set a positive tone for the IPO. However, investors should conduct their own research and consider market conditions before making investment decisions.
As the IPO approaches, market participants will be closely watching the response from retail investors and the overall subscription levels across various investor categories. The success of this IPO could provide insights into the current appetite for automotive component stocks in the Indian market.
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