Tenneco Clean Air India Shares List at 27% Premium; Strong Market Debut

Tenneco Clean Air India delivered a strong stock market debut on Wednesday, listing at a 27% premium over its IPO price. The performance closely matched grey market expectations, which had indicated a 26% premium listing.

Premium Listing on NSE and BSE

The company’s shares were listed at ₹505 per share on NSE, reflecting a 27.2% premium over the IPO price band of ₹378–₹397 per share.
On the BSE, the stock debuted at ₹498 per share, offering a 25.44% premium.

Following the listing, Tenneco Clean Air India’s market capitalisation stood at ₹20,099.49 crore.

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IPO Subscription and Fundraising

The ₹3,600-crore IPO saw strong demand, being subscribed 59 times during the offer period from November 12–14.
Before the issue opened, the company also raised ₹1,080 crore from anchor investors.

Expert View: Fully Priced but Strong Prospects

According to Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Shares and Stock Brokers, the issue appears “fully priced”.
He highlighted that:

• The IPO is valued at a P/E of 23.8x FY26 annualised earnings

• Market-cap-to-sales ratio stands at 3.2 times

• Post-issue market cap was around ₹16,023 crore

Despite these valuations, Solanki believes the company’s leadership in clean air systems, diversified product portfolio, and global-backed innovation support its long-term growth. He recommends investors hold the stock for the long term.

About the Company

Tenneco Clean Air India manufactures and supplies highly engineered clean air, powertrain, and suspension solutions, catering to Indian OEMs as well as export markets.

Disclaimer: Expert views are sourced from Moneycontrol. Users should consult certified professionals before making investment decisions.

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