The highly anticipated initial public offering of Tenneco Clean Air India Ltd has concluded its subscription period with overwhelming investor response. As the bidding window closed on November 14, attention now shifts to the crucial share allocation process that will determine successful applicants.
Tenneco Clean Air IPO Allotment Timeline
The Tenneco Clean Air IPO allotment date is projected for November 17, 2023, according to market sources. This timeline accounts for the intervening weekend of November 15 and 16 when financial markets remain closed. The formal basis of allotment will be finalized shortly, paving the way for the next critical steps in the IPO process.
Following the allocation confirmation, successful investors will receive shares in their demat accounts on November 18, while those who didn't secure allocation will receive refunds on the same day. The final milestone arrives on November 19 when Tenneco Clean Air India shares make their debut on both BSE and NSE.
How to Check Tenneco Clean Air IPO Allotment Status
Investors who participated in the IPO can verify their allocation status through multiple online platforms once the allotment is finalized. The process is straightforward and can be completed using application number or PAN details.
Through BSE Website
Visit the BSE investors page and select 'Equity' as the issue type. Choose Tenneco Clean Air India Limited from the dropdown menu, enter your application number or PAN, complete the captcha verification, and click search to view your allotment status.
Through NSE Portal
Access NSE's IPO verification page, navigate to the equity and SME IPO bids section, select Tenneco Clean Air India Limited from available issues, input your PAN and application number, then submit to check your allocation results.
Through Registrar Portal
MUFG Intime India Pvt. Ltd., the official registrar for this IPO, provides a dedicated portal where investors can check status by selecting the company name and entering identification details such as PAN, application number, DP ID, or account number.
Strong Market Response and Financial Details
The Tenneco Clean Air IPO demonstrated remarkable investor confidence with total subscription reaching 58.83 times the offered shares. The breakdown reveals even more impressive figures across investor categories.
Qualified Institutional Buyers led the demand with 166.42 times subscription, while Non-Institutional Investors subscribed 40.74 times. Retail Individual Investors showed healthy participation with 5.11 times subscription, indicating broad-based market interest in the offering.
The company raised ₹3,600 crore through this entirely offer-for-sale route, where 9.07 crore equity shares were sold within a price band of ₹378 to ₹397 per share. JM Financial Ltd. acted as the book running lead manager for this significant public issue.
Grey Market Premium Signals Positive Listing
Market sentiment remains bullish as Tenneco Clean Air shares command a grey market premium of ₹106 per share. This substantial premium suggests strong secondary market demand even before formal listing.
Based on current GMP trends, the estimated listing price stands at approximately ₹503 per share, representing a nearly 27% premium over the upper end of the IPO price band at ₹397. This positive indicator has heightened anticipation among investors awaiting the November 19 listing.
The successful IPO journey of Tenneco Clean Air India Ltd, a subsidiary of global automotive components major Tenneco Inc., reflects growing investor appetite for companies in the clean air and emissions control space, particularly as environmental regulations tighten worldwide.
