- Price Band has been fixed at ₹378 to ₹397 per Equity Share
- Bid / Offer will open on Wednesday, November 12, 2025 and close on Friday, November 14, 2025
- The Anchor Investor Bidding Date shall be Tuesday, November 11, 2025.
- Bids can be made for a minimum of 37 Equity Shares and in multiples thereof
NE BUSINESS BUREAU
AHMEDABAD, NOV 10
Tenneco Clean Air India Ltd, part of the US-headquartered Tenneco Group, on Monday announced a price band of ₹378-397 per share for its upcoming Initial Public Offering (IPO), aiming for a valuation of over ₹16,000 crore at the upper end.
The ₹3,600-crore IPO will be opened for public subscription on November 12 and conclude on November 14. Anchor investors will be allocated shares on November 11, the company said in a public announcement.
Further, investors can bid for a minimum of 37 shares and in multiples thereof.
The proposed IPO is entirely an Offer for Sale (OFS) by the promoter Tenneco Mauritius Holdings Ltd, with no fresh equity issuance. Since the issue is entirely an OFS, the company will not receive any proceeds from the IPO and all funds raised will go directly to the selling shareholder.
The objective of the IPO is to achieve the benefits of listing, the papers stated. Tenneco Mauritius Holdings Ltd, Tenneco (Mauritius) Ltd, Federal-Mogul Investments BV, Federal-Mogul Pty LTD, and Tenneco LLC are the promoters of the company.
Tenneco Clean Air India is part of the Tenneco Group, a US-headquartered automotive component supplier. It manufactures and supplies critical, highly engineered and technology-intensive clean air, powertrain and suspension solutions tailored for Indian OEMs and export markets.
Issue structure
According to the company, half of the issue size has been reserved for qualified institutional buyers, 35 % for retail investors and the remaining 15 % for non-institutional investors.
Shares of Tenneco Clean Air India will be listed on the bourses on November 19.
Strong Business Backdrop & Market Position
Tenneco Clean Air India manufactures clean air, powertrain, and suspension systems for both Indian and global original equipment manufacturers (OEMs). It operates 12 manufacturing plants across India and also markets aftermarket products through its arm Motocare India.
The company is a key supplier of clean air solutions for commercial trucks and shock absorbers and struts for passenger vehicles, serving both domestic and export markets.
Strong financials
In FY 2025, the company posted a profit after tax (PAT) of ₹553 crore, up from ₹417 crore in FY 24 and ₹381 crore in FY 23, despite a slight dip in revenue year-on-year. Return on capital employed (ROCE) shot up to 56.8% in FY 25 — far above industry norms.)
Listing & BRLMs
The stock is expected to make its market debut on November 19 (Wednesday) on both BSE and NSE.
JM Financial, Citigroup Global Markets India, Axis Capital and HSBC Securities and Capital Markets (India) Private Limited are the book-running lead managers.
The registrar of this mainboard issue is MUFG.
