#TennecoCleanAirIndia #IPO #IndianIPO #PrimaryMarket #StockMarket #CleanAirSolutions #Tenneco #GMP #ListingGain
Mumbai: Tenneco Clean Air India Ltd. has set the price band for its upcoming Initial Public Offering (IPO), with the share sale scheduled to open next week. The company, a subsidiary of the US-based Tenneco Group, announced the price band at ₹378 to ₹397 per equity share on Friday.
The public issue, valued at ₹3,600 crore at the upper end of the price band, could see the company’s valuation surpass ₹16,000 crore upon listing.
IPO Details at a Glance
| Event | Date | Detail |
| Price Band | Announced | ₹378 – ₹397 per share |
| IPO Subscription | Opens November 12 | Closes November 14 |
| Anchor Investor Allocation | Scheduled | November 11 |
| Listing Date | Proposed | November 19 |
| Issue Size | Upper End | ₹3,600 crore |
The company stated that the IPO is aimed at realizing the benefits of listing on the stock exchanges.
Strong Grey Market Premium Signals High Demand
Market observers are noting significant investor interest in the issue even before it opens. According to reports from Investorgain, Tenneco Clean Air India shares are commanding a Grey Market Premium (GMP) of ₹85 per share.
This GMP indicates a potential listing gain of around 21.41% over the upper end of the price band, suggesting a robust appetite among investors for the company’s stock.
Company Profile
Tenneco Clean Air India Ltd. is part of the US-based Tenneco Group. It operates in the automotive sector, specializing in the manufacture and supply of:
- Clean Air Solutions
- Powertrain Solutions
- Suspension Solutions
The company serves both Indian Original Equipment Manufacturers (OEMs) and international export markets. The promoters of the company include Tenneco Mauritius Holdings Ltd., Tenneco (Mauritius) Ltd., Federal-Mogul Investments BV, Federal-Mogul Pty Ltd., and Tenneco LLC.
The listing is proposed to take place on the stock exchanges on November 19, following the completion of the subscription and allotment process.
#TennecoCleanAirIndia #IPO #IndianIPO #PrimaryMarket #StockMarket #CleanAirSolutions #Tenneco #GMP #ListingGain
