Shares of Tenneco Clean Air India Limited, part of the US-based Tenneco Group, made a strong debut on the stock market. The company did not raise fresh funds through the IPO; instead, its promoter, Tenneco Mauritius Holdings Ltd, offered 9.07 crore shares in an offer-for-sale valued at about ₹3,600 crore.
The issue price of the shares was set at ₹397 each, at the top of its price band of ₹378–₹397. On listing day (Wednesday, November 19, 2025), the shares opened at ₹505 on the NSE — a listing premium of roughly 27.2%. On the BSE the stock began trading at ₹498, representing a 25.44% gain over the issue price. By the day’s close the price settled at ₹490, still with a strong listing uplift though a drop from the opening.
For retail investors who received allotment, a “lot” of 37 shares translates into roughly ₹18,685 gains per lot — based on the listing price.
The IPO garnered massive interest: bids totalled 392.21 crore shares against 6.67 crore shares on offer, implying an overall subscription of around 58.83 times. that down:
- Qualified Institutional Buyers (QIBs): 1.90 crore shares on offer; bids ~316.98 crore shares → ~166.4× subscription.
- Non-Institutional Investors (NIIs): 1.43 crore shares on offer; bids ~58.20 crore shares → ~40.74×.
- Retail Investors: 3.33 crore shares on offer; bids ~17.03 crore shares → ~5.11×.
Before the public offering, the company secured about ₹1,079.99 crore from anchor investors, including names such as SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, and others like BlackRock and the Norway Government Pension Fund.
In terms of business, Tenneco Clean Air India is engaged in manufacturing advanced clean-air, powertrain and suspension solutions, including exhaust after-treatment systems, catalytic converters, mufflers, shock absorbers and struts — technically intensive components used in automotive applications.
In summary: the company’s shares listed at a substantial premium, rewarding those investors who got allotment, and reflecting strong demand for the issue.