Tenneco Clean Air India, a subsidiary of US-based Tenneco Inc., will open its initial public offering (IPO) on November 12, 2025, and close on November 14, 2025, as per the news reports.
The anchor investor bidding will be held on November 11, 2025. The company has increased the issue size to ₹3,600 crore from the earlier planned ₹3,000 crore, according to the Red Herring Prospectus.
The IPO is a complete Offer for Sale (OFS) by the promoter Tenneco Mauritius Holdings, with no fresh issue of shares. As a result, the company will not receive any proceeds from the issue.
The proceeds, net of offer-related expenses, will go to the selling shareholder. Half of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 35% for retail investors.
The basis of allotment is expected to be finalised by November 17, and equity shares are likely to be credited to investors’ demat accounts by November 18. The shares are expected to be listed on both the BSE and NSE on November 19, 2025.
JM Financial, Citigroup Global Markets India, Axis Capital, and HSBC Securities and Capital Markets (India) are the lead managers to the issue, while MUFG Intime India will act as the registrar.
Tenneco Clean Air India manufactures and supplies clean air, powertrain, and suspension solutions for automobile and industrial applications. It operates 12 manufacturing facilities in India and also serves the aftermarket through its group company Motocare India. The company’s clients include Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai, Honda, Ashok Leyland, and Royal Enfield.
In FY25, Tenneco Clean Air reported a profit of ₹552 crore, up from ₹416.7 crore in the previous year. EBITDA rose 33.2% to ₹815.2 crore, with margins improving to 16.7%, while revenue declined 10.6% to ₹4,890.4 crore. In the quarter ended June 2025, profit increased 12% to ₹167.8 crore on revenue of ₹1,285.6 crore.
Ahead of the IPO, 14 investors, including SBI Mutual Fund, Kotak Mahindra Life Insurance, WhiteOak Capital, and ValueQuest Investment Advisor, bought a 2.75% stake in the company for ₹440 crore, valuing it at over ₹16,000 crore. The promoter’s shareholding now stands at 97.25%
Read More: Pine Labs Raises ₹1,753 Crore from Anchor Investors Ahead of ₹3,899 Crore IPO!
The company’s public issue is set to conclude on November 14, 2025, followed by listing on the BSE and NSE on November 19, 2025.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Nov 7, 2025, 1:15 PM IST
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