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Tenneco Clean Air IPO
Price Band
₹378.0–397.0
Issue Size
₹3600.0 Cr
Lot Size
37 shares
Min Investment
₹14,689
GMP
+₹104.0 (26.2%)
Issue Price
₹397.0
Subject to Sauda
₹2900
Paid only if allotted
Tenneco Clean Air IPO AI Summary
- Tenneco Clean Air IPO is listed on BSE, NSE in the Auto Components & Equipments sector.
- Price band: ₹378.0–₹397.0 per share, lot size 37 shares (min. investment ₹14,689).
- Subscription window: 12 Nov–14 Nov 2025, listing on 19 Nov 2025.
- Current GMP is +₹104.0 (26.2%), an estimated listing price of ₹501 — unofficial and can change daily.
Tenneco Clean Air India Limited is set to raise ₹3,600 Cr through its IPO, with a price band of ₹378.0 to ₹397.0. The company focuses on emission control technologies and has a strong market position supported by its innovative product offerings. Investors should consider their risk profile and market conditions when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Tenneco Clean Air IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 14 Nov 2025 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Tenneco Clean Air IPO Grey Market Premium (GMP) Today
GMP
+₹104.0
GMP %
+26.2%
Est. Listing
₹501.0
Updated: 25 Jul 2026 14:15
About the Company
Incorporated in 2018, Tenneco Clean Air India Limited is a subsidiary of Tenneco Inc., a global leader in designing and manufacturing clean air and powertrain products for automotive applications. The company operates within the Clean Air division, focusing on emission control technologies for both light and commercial vehicles. In India, Tenneco Clean Air provides advanced exhaust and after-treatment systems, helping vehicle manufacturers meet increasingly stringent emission norms such as Bharat Stage VI. Its product portfolio includes catalytic converters, diesel particulate filters (DPFs), mufflers, and exhaust pipes. The company has manufacturing facilities strategically located across India to support OEMs and Tier 1 customers. It emphasizes sustainability, innovation, and compliance with environmental regulations through advanced R&D and engineering capabilities. As of March 31, 2025, the company have 12 manufacturing facilities, comprising seven Clean Air & Powertrain Solutions facilities and five Advanced Ride Technology facilities, across seven states and one union territory in India. Products: The Clean Air & Powertrain Solutions division: Clean Air Solutions, Powertrain Solutions The Advanced Ride Technologies division designs, manufactures and sells shock absorbers, struts and advanced suspension systems. As of March 31, 2025, the company had 145 employees dedicated to the design, engineering and R&D department. Competitive Strengths: Market leading supplier of critical, highly engineered and technology intensive clean air, powertrain and suspension solutions to leading Indian and global OEMs Strategically diversified portfolio of proprietary products and solutions well positioned to capture market and industry trends Innovation-focused approach aided by our ability to leverage Tenneco Group’s global R&D initiatives to cross-deploy global technologies for proprietary, modular and customized products at Indian price points Flexible and automated manufacturing footprint of 12 strategically located plants well-supported by a localized supply chain
Company Financials (₹ Cr)
As of 2025-06-30
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 2,918.77 | 2,831.58 | 2,136.26 | 2,429.65 |
| Total Income | 1,316.43 | 4,931.45 | 5,537.39 | 4,886.96 |
| Profit After Tax | 168.09 | 553.14 | 416.79 | 381.04 |
| EBITDA | 228.88 | 815.24 | 612.09 | 570.63 |
| NET Worth | 1,250.38 | 1,255.09 | 1,116.59 | 1,378.82 |
| Reserves and Surplus | 1,204.30 | 1,208.76 | 767.26 | 896.05 |
| Total Borrowing | 0.86 |
Key Ratios
EPS
₹13.71
NAV
₹31.10
ROE
42.65%
ROCE
56.78%
RoNW
46.65%
P/B Value
12.77
P/E Ratio
28.97
Market Cap
₹16023.09 Cr
PAT Margin
11.31%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Sona BLW Precision Forgings | 88.38 | 14.76% | 14.76 | 9.92 | 9.92 |
| Uno Minda | 95.99 | 18.36% | 75.11 | 16.42 | 16.37 |
| Gabriel India | 82.38 | 22.42% | 75.92 | 17.05 | 17.05 |
| Sharda Motor Industries | 184.97 | 30.46% | 9.67 | 109.71 | 109.71 |
| ZF Commercial Vehicle Control System India | 1694.75 | 15.35% | 53.67 | 242.9 | 242.9 |
| SKF India | 525.5 | 21.43% | 19.21 | 114.5 | 114.5 |
| Timken India | 378.21 | 17% | 49.22 | 59.48 | 59.48 |
| Bosch | 4682.16 | 15.58% | 57.39 | 683.25 | 683.25 |
| Tenneco Clean Air India Limited This IPO | 31.1 | 46.65% | — | 13.68 | 13.68 |
Promoters
Tenneco Mauritius Holdings Ltd., Tenneco (Mauritius) Ltd., Federal-Mogul Investments B.V, Federal-Mogul Pty Ltd. and Tenneco LLC
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹4,886.96 Cr in the year ending 31 Mar 2023, rising to ₹5,537.39 Cr by 31 Mar 2024, but then it decreased to ₹4,931.45 Cr for the year ending 31 Mar 2025. The most recent figure, ₹1,316.43 Cr for the period ending 30 Jun 2025, is not directly comparable as it represents only a 9-month period.
Profit Trend
Profit After Tax was ₹381.04 Cr for the year ending 31 Mar 2023, increasing to ₹416.79 Cr by 31 Mar 2024, and further rising to ₹553.14 Cr for the year ending 31 Mar 2025. The latest figure of ₹168.09 Cr for the period ending 30 Jun 2025 is not directly comparable as it is a 9-month figure.
Valuation
At the issue price of ₹397.0, Tenneco Clean Air has an implied P/E ratio of approximately 28.97 based on an EPS of ₹13.71. This is compared to peers with P/E ratios ranging from 9.67 to 75.92.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium of the IPO shares over the issue price in the grey market before listing. A positive GMP suggests that the shares are likely to list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance, considering factors such as market conditions and the company's growth potential.
Who May Want to Wait
Conservative investors or those with a low risk appetite may prefer to avoid IPOs in sectors with high competition and regulatory scrutiny, like the automotive components industry.
IPO Timeline, Explained
The IPO opens for subscription on November 12, 2025, and closes on November 14, 2025. Allotment of shares is expected by November 17, 2025, with the listing date set for November 19, 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make by selling shares on the listing day at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and other factors.
This evaluation is generated from Tenneco Clean Air's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Tenneco Clean Air IPO GMP today?
Tenneco Clean Air IPO GMP today is +₹104.0 (26.2%), indicating an estimated listing price of ₹501. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Tenneco Clean Air IPO?
The price band of Tenneco Clean Air IPO is ₹378.0–₹397.0 per share.
When does Tenneco Clean Air IPO open and close?
Tenneco Clean Air IPO opens on 12 November 2025 and closes on 14 November 2025.
When does Tenneco Clean Air IPO list on the stock exchange?
Tenneco Clean Air IPO listed on 19 November 2025 at ₹501.0.
What is the lot size for Tenneco Clean Air IPO?
The lot size for Tenneco Clean Air IPO is 37 shares, requiring a minimum investment of ₹14,689.
What is the price band for the IPO?
The price band for the IPO is ₹378.0 to ₹397.0.
What is the minimum investment required?
The minimum investment required is ₹14,689.0.
What is the lot size for the IPO?
The lot size for the IPO is 37 shares.
When is the listing date?
The listing date is November 19, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the IPO shares in the grey market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
12 Nov 2025
Close
14 Nov 2025
Allotment
17 Nov 2025
Listing
19 Nov 2025
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