Tenneco Clean Air made a spectacular entry into the Indian stock markets on Wednesday, November 19, 2025, with its shares listing at a significant premium that delighted investors. The automotive components manufacturer witnessed one of the most successful public offerings of the year, demonstrating strong investor confidence in the company's prospects.
Impressive Listing Performance
The company's shares began trading at ₹505 on the National Stock Exchange, representing a handsome premium of 27.20 percent over the issue price of ₹397. On the Bombay Stock Exchange, the stock opened at ₹498, marking a gain of 25.44 percent from the IPO price. This stellar performance was in line with grey market predictions, where the Tenneco Clean Air IPO grey market premium had consistently stood at ₹104 per share, indicating an expected listing price of around ₹501.
IPO Details and Subscription Response
The Tenneco Clean Air public issue, which was open for subscription from November 12 to November 14, 2025, witnessed overwhelming response from investors across categories. The allotment process was completed on November 17, setting the stage for the impressive listing.
The ₹3,600 crore IPO was structured entirely as an offer for sale comprising 9.07 crore shares. The price band was set between ₹378 and ₹397 per share, with retail investors required to apply for a minimum lot size of 37 shares, translating to an application amount of ₹14,689.
Investor enthusiasm was particularly evident in the subscription numbers. The offering was subscribed 61.79 times overall, with qualified institutional buyers leading the charge by subscribing their portion 174.78 times. Non-institutional investors showed strong interest with their category subscribed 42 times, while retail investors demonstrated moderate but healthy participation with 5.37 times subscription.
Company Background and Market Position
Tenneco Clean Air operates as part of the Tenneco Group, a U.S.-based global Tier I automotive components manufacturer with significant presence in Indian and international markets. The company specializes in supplying high-engineering, technology-led clean air, powertrain and suspension systems to original equipment manufacturers.
The company's diverse product portfolio serves both passenger and commercial vehicle segments, including commercial trucks, off-highway equipment, and various industrial applications. Their products also find applications in generator sets, small commercial vehicles with gross vehicle weight below 3.5 tons, and extend to two-wheelers and three-wheelers.
JM Financial Ltd. acted as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. served as the registrar. Since the IPO consisted solely of an offer for sale, the entire proceeds will go to the selling shareholders rather than the company itself.
Ahead of the public offering, the company had successfully mobilized ₹1,080 crore from anchor investors on November 11, setting a positive tone for the main subscription.
The successful listing of Tenneco Clean Air shares reflects the growing investor appetite for quality automotive component manufacturers in India and underscores the strength of the company's business model and market position. The strong debut also signals positive sentiment toward the automotive sector's growth prospects in the coming years.
