Summary of this article
Tenneco Clean Air IPO GMP hinted at a decent listing for the stock.
Tenneco Clean Air IPO is scheduled to close on November 14.
Tenneco Clean Air IPO allotment will be decided on November 18.
Tenneco Clean Air IPO GMP Today: The subscription window for Tenneco Clean Air India Ltd’s public issue opened on November 12. The public issue is witnessing decent demand following the opening of its bidding window.
The shares of Tenneco Clean Air India Ltd are also garnering strong demand in the grey market, hinting at a listing with decent gains. Here’s a look at some key details from the Red Herring Prospectus (RHP) before investors consider applying for Tenneco Clean Air IPO:
Tenneco Clean Air IPO GMP
Tenneco Clean Air IPO GMP is ranging between Rs 55 to Rs 61 per share on the first day of subscription, as per websites that track the demand for shares of unlisted companies. Based on the GMP shares of the automotive company are expected to list at Rs 458 with gains of 15.37 per cent.
Tenneco Clean Air IPO: Subscription Update
Tenneco Clean Air IPO is witnessing decent demand on the first day of bidding. The public issue has been booked 13 per cent so far, as investors applied for 8.62 million shares compared to the 66.66 million shares offered for subscription.
Non-institutional investors are leading the demand for shares of Tenneco Clean Air India Ltd, having booked 28 percent by applying for 4.028 million shares, compared to the 14.28 million shares set aside for them. Retail investors have bid for 4.58 million shares so far against the 33.33 million shares reserved for them. The automotive component maker’s public issue has been subscribed to 14 per cent in the retail category. Qualified institutional buyers have placed bids for 17,390 shares compared to the 19.047 million shares reserved for them.
Tenneco Clean Air IPO: Offer Size and Price Band
Tenneco Clean Air IPO offer size aggregates to Rs 3,600 crore. The automotive component maker’s issue consists of a pure offer-for-sale of 90.7 million shares. Tenneco Clean Air IPO price band has been fixed at Rs 378 to Rs 397 per share. The minimum lot size to apply for the Tenneco Clean Air IPO for retail investors has been set at 1 lot, consisting of 37 shares aggregating to a minimum investment of Rs 14,689.
Tenneco Clean Air IPO: Key Dates
Tenneco Clean Air IPO subscription window will close on November 14. The share allotment status of the Tenneco Clean Air IPO is expected to be decided on November 17. Once the share allotment status of Tenneco Clean Air IPO is decided, successful bidders will receive shares of Tenneco Clean Air in their demat accounts on November 18. Tenneco Clean Air shares are slated to list on the BSE and NSE. Tenneco Clean Air's IPO listing date is November 19.
Tenneco Clean Air: Key Financials
Tenneco Clean Air Ltd’s total income for the June quarter of FY25 stood at Rs 1,316.43 crore, the company’s profit-after-tax stood at Rs 168.09 crore, and the company’s net worth stood at Rs 1,250.38 crore.
Tenneco Clean Air’s total income decreased by over 10 per cent to Rs 4931.45 crore in the financial year ended March 31, 2025, compared to Rs 5537.39 crore in the preceding fiscal. However, Tenneco Clean Air posted top-line growth in the same time period. The company’s profit-after-tax for FY 2024-25 stood at Rs 553.14 crore, increasing by over 32 per cent compared to a net profit of Rs 416.79 crore in FY 2023-24.
Tenneco Clean Air: Business Model
Tenneco Clear India Ltd manufactures and supplies critical, highly engineered, and technology-intensive clean air, powertrain, and suspension solutions tailored for Indian original equipment makers (OEMs) and export markets. The company’s customers include OEMs that use the products for making passenger vehicles, commercial vehicles (which comprise commercial trucks and off-highway vehicles), and industrial and other applications, such as generator sets, small commercial vehicles with a gross vehicle weight of less than 3.5 tons, two-wheelers, and three-wheelers.
The company also sells its products to the aftermarket for vehicles through Motocare India Private Ltd, a subsidiary of Tenneco LLC. The company’s product portfolio includes clean air solutions, exhaust aftertreatment systems, catalytic converters, mufflers, exhaust pipes, engine bearings, sealing systems, ignition products, shock absorbers, struts, and advanced suspension systems.
Tenneco Clean Air: Competitors
Bosch Ltd, Timken India Ltd, SKF India Ltd, ZF Commercial Vehicle Control System India Ltd, Sharda Motor Industries Ltd, Gabriel India Ltd, Uno Minda Ltd, and Sona BLW Precision Forgings Ltd.
Tenneco Clean Air IPO: Should You Apply?
Investors who wish to apply for Tenneco Clean Air IPO should factor in these risks and strengths before making a decision:
Tenneco Clean Air IPO: Risks
Tenneco Clean Air’s business faces these risks as per the company’s RHP:
Tenneco Clean Air India Ltd mentioned in its RHP that it derives a significant portion of its revenue from operations in the passenger vehicle (PV) and commercial vehicle (CV) sectors in India, any adverse changes in the PV and CV segments can negatively impact the company’s business.
The automotive company depends on its top ten customers for revenue. The top-ten customers made up 80.57 per cent, 82.32 per cent, and 81.54 per cent of the company’s revenue for the three months ended June 30, 2025, and FY 2025 and Fiscals 2025. Thus, loss of any of the customers is expected to negatively affect the company’s results of operations.
The company mentioned that its business is heavily influenced by government policies and regulations regarding emission standards, and delays in the implementation of emission standards may affect the growth of the business.
Tenneco Clean Air IPO: Strengths
Here’s a look at some of the key strengths of Tenneco Clean Air according to the company’s RHP:
Tenneco Clean Air India Ltd claims that it is the market-leading supplier of critical, highly engineered, and technology-intensive clean air, powertrain, and suspension solutions to leading Indian and global OEMs.
The company has a strategically diversified portfolio of proprietary products and solutions aimed at capturing the market and industry trends. The company offers a diversified range of customised and proprietary products and solutions for each industry sub-segment, including exhaust after-treatment systems.
The automotive component maker has a flexible and automated manufacturing footprint of 12 plants located across seven states and one union territory in India. Notably, the plants are located in key automotive OEM hubs in India, such as Maharashtra, Tamil Nadu, and Gujarat.
Tenneco Clean Air IPO: Objective
Tenneco Clean Air India Ltd will not receive any proceeds from the public issue. However, the automotive component maker seeks to achieve the benefits of listing its shares on the exchanges.
