The Tenneco Clean Air India IPO opened for public subscription on November 12, 2025, marking one of the major listings in the automobile components sector this year. The issue has already gained investor attention with a strong response from anchor investors and a steady grey market premium (GMP) indicating positive sentiment.

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IPO Details and Price Band Strong Anchor Investor Response About Tenneco Clean Air India Should You Subscribe?Grey Market Premium (GMP) Trends Key Dates and Listing Information

IPO Details and Price Band

The Tenneco Clean Air IPO is a book-built issue worth ₹3,600 crore, entirely an offer for sale (OFS) of 9.07 crore shares. This means that all proceeds will go to the selling shareholders, and the company will not receive any fresh capital from this issue.

The subscription window will remain open till November 14, 2025, giving investors three days to participate.

The price band for the IPO is set between ₹378 and ₹397 per share.

Retail investors can apply for a minimum lot size of 37 shares, requiring an investment of ₹14,689 at the upper price band.
Small Non-Institutional Investors (SNII) must apply for at least 14 lots (518 shares) worth around ₹2.05 lakh, while Big Non-Institutional Investors (bNII) can apply for 69 lots (2,553 shares), amounting to ₹10.13 lakh.

JM Financial Ltd is the book-running lead manager, and MUFG Intime India Pvt. Ltd is the registrar to the issue.

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Strong Anchor Investor Response

Ahead of its public issue, Tenneco Clean Air India raised ₹1,079 crore from anchor investors on November 11. The company allocated over 2.72 crore shares at ₹397 per share, as per its regulatory filing.

This robust anchor participation has boosted investor confidence and indicates strong institutional interest in the company’s growth prospects.

“The strong anchor book reflects institutional confidence in Tenneco’s business model and long-term potential,” said a market analyst tracking IPO developments.

About Tenneco Clean Air India

Incorporated in 2018, Tenneco Clean Air India Ltd is a subsidiary of Tenneco Inc, a global leader in clean air and powertrain solutions. The company designs and manufactures emission control and exhaust products such as catalytic converters, mufflers, diesel particulate filters, and complete exhaust systems.

Tenneco caters to both domestic and international Original Equipment Manufacturers (OEMs) and has a strong presence across light and heavy vehicle segments. The company’s focus on clean mobility technologies positions it well within India’s rapidly evolving auto component industry.

According to Mater Capital Services Ltd, the long-term outlook for India’s auto component industry remains highly positive.

“Auto component production has grown at a 13.4% CAGR from FY20 to FY25, and is projected to grow another 9–11% annually till FY30,” the brokerage noted.

The firm also highlighted Tenneco’s strong market positioning, adding that its deep OEM relationships and advanced engineering expertise give it a competitive edge.

“Investors may consider this IPO as a potential long-term investment opportunity, given its leadership in emission control technology and alignment with India’s shift to cleaner mobility,” Mater Capital added.

Grey Market Premium (GMP) Trends

As of November 12, 2025, the grey market premium (GMP) for Tenneco Clean Air IPO stood at ₹61 per share, suggesting an estimated listing price of ₹458 based on the upper price band.

This implies a potential listing gain of around 15.37%, reflecting optimism among retail and institutional investors.

A positive GMP, combined with strong anchor participation, indicates healthy sentiment around Tenneco’s fundamentals and the growing clean mobility sector in India.

Key Dates and Listing Information

IPO Opens: November 12, 2025
IPO Closes: November 14, 2025
Allotment Date: November 17, 2025
Expected Listing Date: November 19, 2025
Exchanges: BSE and NSE

Final Takeaway

The Tenneco Clean Air IPO presents an attractive opportunity for investors focused on India’s expanding auto component and clean mobility sector. Backed by a global parent company, strong OEM partnerships, and steady financial growth, the company’s market position appears solid.

However, since the issue is entirely an offer for sale, short-term investors may focus on listing gains, while long-term investors can consider holding for potential value appreciation as India’s clean energy and mobility transitions continue.

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