The initial public offer of Tenneco Clean Air India received bids for 3,92,21,37,603 shares as against 6,66,66,666 shares on offer. The issue was subscribed 58.83 times.
The Qualified Institutional Buyers (QIB) category was subscribed 166.42 times, the Non-Institutional Investors category was subscribed 40.74 times and the Retail Individual Investors category was subscribed 5.11 times.
The issue opened for bidding on 12 November 2025 and it closed on 14 November 2025. The price band of the IPO was fixed between Rs 378 and 397 per share.
The IPO was a complete offer for sale of Rs 3,600 crore by the existing shareholder, Tenneco Mauritius Holdings.
The promoters are Tenneco Mauritius Holdings, Tenneco (Mauritius), Federal-Mogul Investments, Federal-Mogul Pty, and Tenneco LLC. The promoters and promoter group hold an aggregate of 39,25,21,185 equity shares, aggregating to 97.25% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 74.79%.
Tenneco Clean Air India is a part of the Tenneco Group, a U.S. headquartered key global Tier I automotive component supplier. The company manufacture and supply critical, highly engineered and technology intensive clean air, powertrain and suspension solutions tailored for Indian OEMs and export markets.
The company operates two main business divisions namely, Clean Air & Powertrain Solutions and Advanced Ride Technologies.
In Q1 FY26, Clean Air & Powertrain Solutions contributed 56.28% to revenue, and Advanced Ride Technologies 43.72%.
Its customers include global and well-known names such as Ashok Leyland, Bajaj Auto, Cummins India, Daimler India Commercial Vehicle, Honda Motorcycle and Scooter India, Hyundai Motor India, John Deere India, Kirloskar Oil Engine, Mahindra & Mahindra, Maruti Suzuki India, Renault Nissan Automotive India, Royal Enfield, Skoda Auto Volkswagen India, Tata Motors, Toyota Kirloskar Motor, Vinfast Trading and Production Joint Stock Company, and VE Commercial Vehicles.
In Q1 FY26, exports contributed 7.42% to revenue, the domestic market 92.13%, and other operating revenue 0.45%.
Ahead of the IPO, Tenneco Clean Air India, on 11 November 2025, raised Rs 1,079.99 crore from anchor investors. The board allotted 2,72,04,030 shares at Rs 397 each to 58 anchor investors.
The firm reported a consolidated net profit of Rs 167.82 crore and sales of Rs 1,285.62 crore for the three months ended on 30th June 2025.