Tenneco Clean Air India IPO Details
| Detail | Description |
|---|---|
| IPO Date | November 12, 2025 to November 14, 2025 |
| Listing Date | [.] |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 378 to ₹ 397 per share |
| Lot Size | 37 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 9,06,80,101 shares (aggregating up to ₹ 3,600.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 40,36,04,309 shares |
| Share Holding Post Issue | 40,36,04,309 shares |
About Tenneco Clean Air India IPO
The Tenneco Clean Air IPO size is around ₹3,600 crores and is a 100% offer-for-sale by existing promoter shareholders that include Tenneco Mauritius Holdings Ltd. There is no new issue component. This is a book-built IPO and its price band is between ₹378.00 to ₹397.00 per share. The subscription period begins on 12 November 2025 and ends on 14 November 2025. Its shares are likely to be listed on the stock exchanges NSE and BSE from 19 November 2025.
Company Background
Tenneco Clean Air India Ltd. is a unit of the US-based global automotive component supplier Tenneco Inc. Established in 2018, the firm develops and produces high-tech exhaust systems and clean air solutions for Indian OEMs as well as export markets. The company specialises in emission control systems that meet strict environmental norms such as BS-VI. It has 12 plants across India in seven states and union territories, namely Maharashtra, Gujarat, Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka, among others, with a significant presence in Pune as well. Its plant in Hosur was its second plant to be operational. The company supplies to top Indian automobile makers like Tata Motors, Mahindra & Mahindra, Maruti Suzuki, Hyundai, and Volvo Eicher.
Operations and Product Range
Facility and Production
Tenneco Clean Air India's manufacturing units make a variety of emission control products such as catalytic converters, diesel particulate filters, mufflers, and exhaust manifolds. These products are used for passenger and commercial vehicles across several markets, including lowering vehicle emissions to meet global environmental standards. The company has modern production facilities to meet increasing demand in India and overseas, and its combined production capacity has exceeded 1.5 million units annually as of FY2025, backed by advanced production equipment.
Brands and Market Presence
Being part of the Tenneco Group enables the company to have access to international technologies and patents, as well as be a major supplier for OEMs. It has established deep relationships with top automobile manufacturers and serves the domestic aftermarket as well as exports to other Tenneco group companies worldwide. Around 40% of its FY25 revenue was from exports, demonstrating the company’s strong global business footprint.
Tenneco Clean Air IPO Revenue Channels
Tenneco’s net sales are driven by domestic OEM sales, international shipping to Tenneco units worldwide, and servicing the domestic replacement market. In FY2025, Tenneco Clean Air India recorded ₹4,931 crores in revenues with strong growth and profitability, posting an EBITDA margin of 16.7% and a PAT margin of 11.3%.
Management and Shareholding
Promoters and Shareholding
The promoter and the selling shareholder for the Tenneco Clean Air IPO is Tenneco Mauritius Holdings Ltd., which owns 100% of its equity shares. The OFS will lead to an increase in public shareholding post-IPO. The promoter group also comprises Tenneco Mauritius Ltd, Federal-Mogul Investments BV, Federal-Mogul Pty Ltd, and Tenneco LLC.
Board Members
The Tenneco Clean Air IPO is overseen by a board that includes both Indian and international industry veterans with experience in automotive technology, finance, and corporate governance. The management team comprises the Managing Director and independent directors with a strong vision to grow and innovate as per global industry benchmarks.
Tenneco Clean Air IPO Objectives
Since this is an offer-for-sale IPO, all proceeds from the issue will be received by the selling shareholders. The IPO aims to enhance public shareholding, unlock liquidity, and improve corporate governance and market visibility.
Conclusion
The Tenneco Clean Air IPO is a main-board IPO of 41,45,325 equity shares of the face value of ₹10 aggregating up to ₹500.00 crores. With healthy financials, strong parentage, and a growing domestic and international presence, this IPO offers optimism for gradual expansion in line with clean air technology in vehicles.
Tenneco Clean Air India IPO Financial Information
Latest Revenue
1,316.43
₹ Crore
Profit After Tax
168.09
₹ Crore
Net Worth
1,250.38
₹ Crore
Total Borrowing
0.86
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 2,918.77 | 1,316.43 | 168.09 | 1,250.38 | — | ||||
| 31 Mar 2025 | 2,831.58 | 4,931.45 | 553.14 | 1,255 | — | ||||
| 31 Mar 2024 | 2,136.26 | 5,537.39 | 416.79 | 1,116.59 | — | ||||
| 31 Mar 2023 | 2,429.65 | 4,886.96 | 381.04 | 1,378.82 | 0.86 | ||||
| Amount in ₹ Crore | |||||||||
Tenneco Clean Air India Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 42.65% |
| ROCE | 56.78% |
| Debt/Equity | 46.65% |
| RoNW | 11.31% |
| PAT Margin | 16.67% |
| EBITDA Margin | 12.77 |
| Price to Book Value | ₹16023.09 Cr. |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.71 | 16.66 |
| P/E (x) | 28.97 | 23.83 |
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Competitive Strengths
Supported by Tenneco Inc., a reputable global player in automotive parts
Access to proprietary technology and R&D capabilities
Wide range of products supplying to present and future emission norms
Deep relationships with leading Indian OEMs and global automakers
Significant scale with 12 manufacturing plants spread over key locations in India
Export operations constitute a significant revenue segment
Strong financial performance with high EBITDA and ROE ratios
Download regulatory filings
Tenneco Clean Air India IPO Timeline
| IPO Open Date | Wed, Nov 12, 2025 |
| IPO Close Date | Fri, Nov 14, 2025 |
| Tentative Allotment | Mon, Nov 17, 2025 |
| Initiation of Refunds | Tue, Nov 18, 2025 |
| Credit of Shares to Demat | Tue, Nov 18, 2025 |
| Tentative Listing Date | Wed, Nov 19, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Nov 14, 2025 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 37 | ₹14,689 |
| Individual investors (Retail) (Max) | 13 | 481 | ₹1,90,957 |
| S-HNI (Min) | 14 | 518 | ₹2,05,646 |
| S-HNI (Max) | 68 | 2,516 | ₹9,98,852 |
| B-HNI (Min) | 69 | 2,553 | ₹10,13,541 |