Tenneco Clean Air India Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹378 - ₹397
- Lot size
- 37 shares
- Issue amount
- ₹3,600 cr
- Total subscription
- 61.79×
- Opens
- 12 Nov 2025
- Closes
- 14 Nov 2025
- Allotment
- 17 Nov 2025
- Listing
- 19 Nov 2025
Offer at a glance
Issue overview
- Issue size
- 9,06,80,101 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,986
- Fresh issue
- ₹0 cr
- Offer for sale
- ₹3,600 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,689
- Issue type
- Bookbuilding IPO
- Shares before issue
- 40,36,04,309
- Shares after issue
- 40,36,04,309
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 37 | ₹14,689 |
| sHNI | 14 | 518 | ₹2,05,646 |
| bHNI | 69 | 2,553 | ₹10,13,541 |
Share reservation
Subscription & GMP
Subscription by category
Reported 14 Nov 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 8,57,785 | 36,62,855 |
| HNIs(10L +) | 17,506 | 1,70,742 |
| HNIs (2-10L) | 8,753 | 2,46,770 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 720 | 1,25,842.82 |
| FIIs | 0 | 33,834.04 |
| FIs | 0 | 61,833.94 |
| Mutual Funds | 0 | 9,646.93 |
| Others | 0 | 20,527.91 |
| RETAIL | 1,260 | 6,759.94 |
| HNIs 2+ | 180 | 5,330.6 |
| HNIs 10+ | 360 | 17,775.5 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 4.16 | 13.68 | 8.9 |
| ROE | 10.44 | 42.65 | 38.05 |
| ROCE | 16.29 | 56.78 | 45.4 |
| RONW | 13.42 | 46.65 | 33.4 |
| PRE IPO(PE) | 0 | 28.97 | 0 |
| POST IPO(PE) | 23.83 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Tenneco Clean Air India Ltd | 0 | 0 | 10.00 | 31.1 | 46.65 | 13.68 |
| Bosch Ltd | 46.21 | 31575.00 | 10.00 | 4683.48 | 15.56 | 683.25 |
| Timken India Ltd | 54.61 | 3248.00 | 10.00 | 378.21 | 17 | 59.48 |
| SKF India Ltd | 40.2 | 4603.00 | 10.00 | 525.5 | 21.43 | 114.5 |
| ZF Commercial Vehicle Control System India Ltd | 53.71 | 13047.00 | 5.00 | 1694.75 | 15.35 | 242.9 |
| Sharda Motor Industries Ltd | 16.92 | 1856.40 | 2.00 | 369.92 | 30.46 | 109.71 |
| Gabriel India Ltd | 34.73 | 592.20 | 1.00 | 82.38 | 22.42 | 17.05 |
| Uno Minda Ltd | 64.51 | 1056.00 | 2.00 | 99.75 | 17.66 | 16.42 |
| Sona BLW Precision Forgings Ltd | 48.12 | 477.35 | 10.00 | 88.38 | 14.76 | 9.92 |
Company information
Company profile
Founded in 2018, Tenneco Clean Air India Limited is a subsidiary of Tenneco Inc., a global company known for its clean air and powertrain products used in automobiles. The company operates under the Clean Air division, focusing on emission control systems for both light and commercial vehicles. In India, it provides advanced exhaust and after-treatment solutions such as catalytic converters, diesel particulate filters, mufflers, and exhaust pipes to help manufacturers comply with Bharat Stage VI emission standards. Tenneco Clean Air has 12 manufacturing facilities across seven states and one union territory, supporting OEMs and Tier 1 customers. Its operations include two main divisions: Clean Air & Powertrain Solutions, and Advanced Ride Technologies, which produces shock absorbers, struts, and suspension systems. As of March 31, 2025, the company had 145 employees working in design, engineering, and R&D, with a strong focus on sustainability and innovation.
Strengths
- Leading Automotive Supplier: A top-tier provider of advanced clean air, powertrain, and suspension solutions with strong market presence across multiple automotive segments.
- Comprehensive Product Range: Offers a wide variety of proprietary and customized components aligned with modern automotive trends and emission standards.
- Robust Manufacturing Network: Operates 12 strategically located plants across India, ensuring cost efficiency, supply chain reliability, and timely service to OEM clients.
Risk factors
- Absence of Fixed Customer Commitments: The company’s contracts lack firm volume guarantees, which may result in unpredictable sales and affect revenue stability.
- Regulatory Dependence: Growth is closely tied to emission standards; any delay or relaxation in government regulations could dampen product demand.
- Reliance on Parent Group: Dependence on the Tenneco Group for branding, technology, and materials exposes the company to operational and profitability risks if this partnership is altered or terminated.
Promoters
Tenneco Mauritius Holdings Limited
Tenneco (Mauritius) Limited
Federal-Mogul Investments B.V.
Federal-Mogul Pty Ltd
Tenneco LLC
Registrar & documents
Lead manager
Jm Financial Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, Hsbc Securities & Capital Markets Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
RNS2, Nissan Supplier Park SIPCOT Industrial Park, Oragadam Industrial Corridor Sriperumbudur Taluk, Kancheepuram, Tamil Nadu, 602105
+91 124 4784 530
[email protected]Company website ↗Understanding TENNIND IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.