Tenneco Clean Air India's ₹3,600cr IPO opens today
Tenneco Clean Air India's IPO is live from Tuesday, aiming to raise ₹3,600 crore with shares priced at ₹378-₹397 each.
The offer closes Thursday and shares are set to list on November 19.
Company builds emission control and powertrain systems
Tenneco Clean Air India builds emission control, powertrain, and suspension systems for car makers in India and worldwide.
With 12 plants across the country, they supply parts like catalytic converters and mufflers that meet the latest pollution standards.
They work with 119 OEMs and use global R&D to keep their products competitive.
IPO details and financials
This IPO is entirely an Offer for Sale (OFS) by the promoter Tenneco Mauritius Holdings Ltd, with no fresh equity issuance:
50% of shares go to institutional investors, 35% to retail buyers, and 15% to others.
For FY24, revenue was ₹4,890 crore with a profit after tax of ₹553 crore.