Tenneco Clean Air IPO allotment today: How to check status
What's the story
The share allotment for Tenneco Clean Air's initial public offering (IPO) will be finalized today. The public issue was heavily subscribed, with an overall subscription rate of 61.79 times. The retail category was subscribed 5.37 times, while qualified institutional buyers (QIBs) and non-institutional investors (NIIs) subscribed 174.78 times and 42.79 times, respectively, as of November 14.
Subscription details
Tenneco Clean Air's IPO: A closer look
The IPO, which was a book-built issue of ₹3,600 crore, was entirely an offer for sale of 9.07 crore shares. This means no fresh capital will be infused into the company. The subscription window opened on November 12 and closed on November 14 with a price band of ₹378 to ₹397 per share. Retail investors had to make a minimum investment of ₹14,689 for one lot of 37 shares in this period.
Checking process
How to check Tenneco Clean Air IPO allotment status
Investors can check their allotment status on the BSE website or MUFG Intime India's portal. On the BSE site, they have to visit the IPO allotment page, select 'Equity' and choose 'Tenneco Clean Air India Limited.' Then they need to enter their application number and PAN, and click 'Search.' On MUFG Intime India's website, investors have to go to the IPO allotment page, select 'Tenneco Clean Air India Limited,' search using Application Number/Demat Account Number/PAN, and click 'Submit.'
Market outlook
Tenneco Clean Air's IPO GMP and market expectations
The gray market premium (GMP) for the IPO has been rising due to strong demand. The latest GMP is ₹122, indicating a likely listing price of ₹519 at the upper end of the price band. This translates to potential listing gains of around 31%. Analysts believe that the valuation is reasonable and that Tenneco Clean Air is well-positioned for long-term growth in India's auto technology and emission-control space.