Tenneco Clean Air IPO Set for Market Debut
The much-anticipated initial public offering of Tenneco Clean Air is scheduled to make its stock market debut on Wednesday, November 19, 2025. According to official information published on the BSE website, the company's shares will be listed during a special pre-open session on both the Bombay Stock Exchange and National Stock Exchange.
Trading in Tenneco Clean Air shares will commence at 10:00 AM Indian Standard Time, allowing investors to begin buying and selling the stock immediately after listing. This marks a significant milestone for the automotive components manufacturer and its investors.
IPO Timeline and Allocation Details
The subscription period for the Tenneco Clean Air IPO ran from November 12 to November 14, 2025, giving investors a three-day window to participate. The allocation process was finalized on Monday, November 17, with successful investors receiving their shares in demat accounts the following day, Tuesday, November 18.
Investors who did not receive share allotments will receive their refunds on the same day as the listing. The seamless allocation and refund process ensures that all participants have clarity about their investment status before trading begins.
Strong Market Indicators and Grey Market Premium
Current market sentiment appears bullish for Tenneco Clean Air's listing. The grey market premium (GMP) stands at ₹115 per share, indicating strong investor interest and suggesting the stock may list significantly above its issue price.
Based on the upper end of the price band at ₹397 per share and the current GMP, market analysts project the stock could list around ₹512. This represents a potential premium of approximately 28.97 percent, offering substantial gains for investors who received allocations.
The grey market premium serves as an unofficial indicator of the expected gap between an IPO's issue price and its actual listing price, reflecting the additional amount investors are willing to pay over the official offering price.
IPO Structure and Financial Details
The ₹3,600 crore IPO comprises entirely an offer for sale involving 9.07 crore shares. The company established a price band between ₹378 and ₹397 per share, making it accessible to a wide range of investors.
For retail investors, the lot size was set at 37 shares per lot, requiring a minimum investment of ₹14,689. This structure aimed to balance accessibility while ensuring meaningful participation from individual investors.
JM Financial Ltd. acted as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. served as the registrar. All proceeds from the offering will go directly to the selling shareholders rather than the company itself.
Ahead of the public offering, the company raised ₹1,080 crore from anchor investors on November 11, demonstrating strong institutional confidence in the company's prospects.
Company Background and Market Position
Tenneco Clean Air operates as part of the Tenneco Group, a U.S.-based global Tier I automotive components supplier. The company specializes in developing and delivering critical, high-engineering, technology-driven clean air, powertrain, and suspension solutions.
Its products serve both Indian original equipment manufacturers (OEMs) and international markets across multiple vehicle segments. The company's applications span passenger vehicles, commercial vehicles, commercial trucks, off-highway machinery, and various industrial applications.
Additionally, Tenneco Clean Air's technology extends to generator sets, small commercial vehicles with gross vehicle weight below 3.5 tons, along with two-wheelers and three-wheelers, showcasing its diverse market reach and technological capabilities.
Market Context and Investor Sentiment
The successful IPO comes at a time when the primary markets show robust activity. The recent Emmvee Photovoltaic's IPO demonstrated strong investor appetite, with an overall subscription of 61.79 times on the final day of bidding.
Qualified institutional buyers showed particularly aggressive interest in Emmvee, with their quota subscribed 174.78 times. Non-institutional investors also displayed solid confidence with their segment booked 42 times, though retail participation remained relatively modest at 5.37 times subscription.
This market context bodes well for Tenneco Clean Air's market debut, suggesting continued strong investor interest in quality public offerings across sectors.
