The initial public offering (IPO) of Tenneco Clean Air India is set to open on Wednesday, November 12, 2025, with the price band fixed at ₹378 to ₹397 per equity share. The IPO will close on Friday, November 14, 2025. The allocation to anchor investors is scheduled for Tuesday, November 11, 2025.
Tenneco Clean Air India's IPO consists entirely of an offer for sale (OFS) by the promoter, Tenneco Mauritius Holdings, with no fresh issuance of shares. The company has increased its IPO size to ₹3,600 crore from the ₹3,000 crore planned earlier. As the issue is entirely an OFS, Tenneco Clean Air India will not receive any proceeds from the IPO; all funds will be allocated to its promoter.
The IPO lot size is 37 equity shares and in multiples of 37 equity shares thereafter. Not more than 50% of the shares in the public issue are reserved for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
The basis of allotment of shares will be finalized on Monday, November 17, 2025, and the company will initiate refunds on Tuesday, November 18, 2025, while the shares will be credited to the demat accounts of allottees on the same day. Tenneco Clean Air India's share price is likely to be listed on the BSE and NSE on Wednesday, November 19, 2025.
Tenneco Clean Air India Ltd, a subsidiary of the US-based Tenneco Group, manufactures and supplies critical, highly engineered, and technology-intensive clean air, powertrain, and suspension solutions. These are tailored for Indian original equipment manufacturers (OEMs) and export markets. Its customer base spans across OEMs who use the products in passenger vehicles (PVs), commercial vehicles (CVs), which comprises commercial trucks (CTs) and off-highway vehicles (OH), and industrial and other applications, which comprises generator sets, small commercial vehicles with gross vehicle weight of less than 3.5 tons, two-wheelers, and three-wheelers.
JM Financial, Citigroup Global Markets India, Axis Capital, and HSBC Securities and Capital Markets (India) are the merchant bankers managing the IPO. MUFG Intime India Pvt. Ltd. is the registrar for the issue.
Established in 1979, Tenneco Clean Air India operates 12 manufacturing facilities across seven states and one union territory in India as of March 31, 2025. It also runs two R&D technical centers. The company holds strong market positions, including a 57% share in Clean Air Solutions for commercial trucks, 68% for off-highway vehicles, 19% for passenger vehicles, and 52% in shock absorbers and struts for PVs. Its customer base includes top Indian and global OEMs such as Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai, Ashok Leyland, and Honda.
