Mumbai: Auto ancillary player Tenneco Clean Air India Ltd is all set to list simultaneously on the BSE and NSE today after its Offer For Sale (OFS) IPO was massively oversubscribed by 61 times. The issue ran between November 12-14, with investor interest remaining muted for the first day and recovered on the subsequent days.
Existing investors, including Tenneco Mauritius Holdings and Tenneco LLC, offered 9.07 crore shares for the IPO worth ₹3,600 crore.
Qualified Institutional Buyers (QIBs) showed a strong interest, with their portion subscribed 28 times, while non-institutional buyers saw their portion booked 32 times. The retail investor’s portion was oversubscribed 5 times.
The Grey Market Premium (GMP), an indicator used to gauge investor interest, is currently at ₹104, with a potential 26% gain on listing, as per Investorgain data.
Tenneco Clean Air is the Indian subsidiary of the US-headquartered Tenneco Group, which manufactures critical, highly engineered suspension systems, power trains and clean air solutions for Indian Original Equipment Manufacturers (OEMs) and export markets. For FY25, the company recorded a net profit of ₹552.06 cr with a revenue of ₹4,890.43 cr.
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