Tenneco Clean Air Soars on Debut, Lists at Strong Premium

Shares of Tenneco Clean Air India delivered an energetic debut on Wednesday, November 19, as the company’s stock entered the market with a sharp premium over its IPO price. The enthusiasm reflected the strong demand seen during the issue period.

The stock opened at ₹505 on the NSE, a 27.20% premium to the IPO price of ₹397. After initial volatility, it closed slightly lower at ₹490, still comfortably above the issue price. On the BSE, the shares began trading at ₹498, marking a 25.44% gain at the opening.

For retail investors, the listing brought quick rewards. With a lot size of 37 shares, those who received allotment earned a listing gain of ₹18,685 per lot.

The IPO, an offer for sale of 9.07 crore shares worth ₹3,600 crore, did not include a fresh issue component, meaning the entire proceeds will go to the selling promoter, Tenneco Mauritius Holdings Ltd. The company noted in its RHP that market listing will help build visibility and create liquidity for its shares in India.

Demand for the IPO was significantly higher than supply, with the issue closing at 58.83 times subscription.

• QIBs led the charge with a massive 166.42 times subscription.

• Non-institutional investors subscribed 40.74 times.

• Retail investors subscribed 5.11 times.

Ahead of the IPO, Tenneco Clean Air India secured ₹1,079.99 crore from anchor investors, including major domestic and global names such as SBI MF, ICICI Prudential MF, HDFC MF, SBI Life Insurance, BlackRock, Nomura, ADIA, and Goldman Sachs.

Tenneco Clean Air India manufactures high-precision, technology-focused solutions including exhaust aftertreatment systems, catalytic converters, mufflers, shock absorbers and struts. The company is backed by long-standing promoters such as Tenneco (Mauritius) Ltd, Tenneco LLC, Federal-Mogul Investments BV, and Federal-Mogul Pty Ltd.

With a solid debut and heavy institutional interest, the stock has entered the public market on a confident note, backed by strong fundamentals and sector relevance.