Tenneco Clean Air IPO Allotment, GMP: The initial public offering (IPO) of Tenneco Clean Air India Ltd received strong subscription from across investor categories. By the end of the final day, the public issue was subscribed an overall 58.83 times the total shares on offer. Tenneco Clean Air IPO was open for subscription from November 12 to November 14.
Meanwhile, its shares' grey market premium (GMP) saw a sharp rise over the past few days.
Tenneco Clean Air India IPO Subscription Details
The qualified institutional buyers (QIBs) booked the issue 166.42 times, the non-institutional investors (NIIs) subscribed 40.74 times, retail investors booked 5.11 times their quota.
Tenneco Clean Air IPO GMP Today
Tenneco Clean Air IPO GMP stood at Rs 112 per share over the issue price. This translates to a potential listing gain of 28.21 per cent.
Given the current GMP and the upper band of the issue price, Rs 397, the expected listing price of Tenneco Clean Air shares is Rs 509.
Tenneco Clean Air IPO Anchor Book
Ahead of the IPO launch, Tenneco raised Rs 1,080 crore from 58 institutional investors during the anchor round. The company allotted 27.20 million equity shares at Rs 397 apiece, the upper end of the price band. Notably, 17 domestic mutual fund houses participated in the anchor round, investing through a total of 41 schemes, constituting 54.15 per cent of the total allocation to anchor investors.
Among the key domestic buyers, Tata Balanced Advantage Fund bought 3.52 per cent of the anchor book with an investment of Rs 38 crore. SBI Automotive Opportunities Fund subscribed to 3.24 per cent, investing in Rs 35 crore. HSBC Multi Asset Allocation Fund bought 2.31 per cent for Rs 24.9 crore, while Axis Small Cap Fund took 2.13 per cent of the allocation, investing Rs 23 crore.
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