Tenneco Clean Air IPO Opens with 9% Subscription, Grey Market Premium at ₹79
Tenneco Clean Air Ltd.'s ₹3,900 crore IPO opened with a 9% subscription rate on its first day. The price band is set at ₹378-₹397 per share, with the subscription period running from November 12 to 14. Retail investors showed 10% subscription, while non-institutional investors subscribed 19%. Qualified institutional buyers have not yet participated. The grey market premium suggests a potential 19.90% gain over the upper price band. The company, specializing in automotive components, reported strong financial performance with FY 2025 consolidated revenue of ₹4,890.00 crore and profit after tax of ₹552.00 crore. The IPO has already raised ₹1,080 crore from anchor investors.
*this image is generated using AI for illustrative purposes only.
Tenneco Clean Air Ltd., a subsidiary of the US-based Tenneco Group, has launched its initial public offering (IPO) with a tepid response on day one. The ₹3,900 crore IPO opened with a 9% subscription rate, indicating cautious investor sentiment.
IPO Details
| Particulars | Details |
|---|---|
| Issue Size | ₹3,900 crore |
| Price Band | ₹378 - ₹397 per share |
| Subscription Period | November 12 - November 14 |
| Expected Allotment Date | November 17 |
| Issue Type | Offer for Sale (OFS) |
Subscription Breakdown
| Investor Category | Subscription Rate |
|---|---|
| Retail Investors | 10% |
| Non-Institutional Investors | 19% |
| Qualified Institutional Buyers | Not yet participated |
Grey Market Premium
The grey market premium for Tenneco Clean Air shares stands at ₹79, suggesting an estimated listing price of ₹476. This indicates a potential gain of 19.90% over the upper price band.
Company Overview
Tenneco Clean Air India, established in 1979, specializes in manufacturing automotive components, including clean air and powertrain solutions. The company has demonstrated strong financial performance in recent years.
Financial Highlights
| Fiscal Year | Consolidated Revenue | Profit After Tax |
|---|---|---|
| FY 2025 | ₹4,890.00 crore | ₹552.00 crore |
| FY 2024 | ₹5,468.00 crore | ₹417.00 crore |
Anchor Investment
The IPO has already raised ₹1,080 crore from anchor investors, indicating some institutional interest in the offering.
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. Investors should carefully consider the subscription rates, financial performance, and market conditions before making an investment decision.
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