Last day! Tenneco Clean Air IPO ends today; subscription up 13x, NIIs lead

Tenneco Clean Air India IPO: The subscription window to bid for the initial public offering (IPO) of Tenneco Clean Air, a subsidiary of Tenneco Inc., is set to close today, November 14, 2025, after a three-day bidding period that began on November 12, 2025. So far, the maiden public issue has received a strong response from investors. 

 

Data from the National Stock Exchange (NSE) shows that by 01:35 PM on the final day, bids had been placed for 868.42 million shares, compared to the 66.66 million shares available, resulting in an overall subscription rate of approximately 13.03 times.

 

Among investor categories, Non-Institutional Investors (NIIs) demonstrated the highest demand, oversubscribing their allocated quota by 28.45 times. Qualified Institutional Buyers (QIBs) also showed robust interest, with their segment subscribed 18.27 times, while the retail investors’ portion was booked at 3.42 times. 

 

Tenneco Clean Air IPO GMP

According to sources tracking unofficial markets. Tenneco Clean Air’s unlisted shares were trading at ₹488, reflecting a grey market premium of ₹91 or 23 per cent above the issue price of ₹397.

Tenneco Clean Air IPO review

SBI Securities has assigned a 'Subscribe' rating to the issue, citing its market leadership in high-technology clean air, powertrain, and suspension solutions. On a similar note, analysts at Reliance Securities recommended a "Subscribe" stance on the issue, seeing the company as a strong, future-ready player in automotive emission control, backed by its global lineage, diversified product portfolio, and close integration with OEMs.

Tenneco Clean Air IPO details

Tenneco Clean Air aims to raise ₹3,600 crore through an offer for sale (OFS) of 90.7 million shares. There is no fresh issue component. The public offering is available at a price band of ₹378 to ₹397, with a lot size of 37 shares. A retail investor can bid for a minimum of one lot with an investment amount of ₹14,689 (at the upper end of the IPO price) and in multiples thereof.

 

As the subscription window concludes today, the basis of allotment for Tenneco Clean IPO shares is likely to be finalised on Monday, November 17, 2025. The successful allottees will receive the company's shares in their demat accounts by Tuesday, November 18, 2025.

 

Tenneco Clean shares are slated to list on the NSE and BSE, tentatively on Wednesday, November 19, 2025.

 

MUFG Intime India is the registrar for the issue. JM Financial, Citigroup Global Markets India, Axis Capital and HSBC Securities and Capital Markets (India) are the book-running lead managers.

 

According to the red herring prospectus (RHP), the company will not receive any fresh funds from the issue, and existing shareholders will sell their stake through the offer.