Tenneco Clean Air's IPO will open on November 12, 2025, and close on November 14, 2025. Tenneco Clean Air's IPO is a book-built issue. The company will raise approximately ₹3,600 crore through the IPO, consisting of a fresh issue of shares worth ₹[.] crore and 9,06,80,101 equity shares with a face value of ₹10.
The price band for Tenneco Clean Air's IPO is ₹378 to ₹397 per share. Retail shareholding is 35%, QIB 50%, and HNI 15%. Tenneco Clean Air's IPO will be listed on the BSE and NSE on November 19, 2025. The allotment date for the Tenneco Clean Air IPO is November 17, 2025.
The company reported revenue of ₹4,931.45 crore in 2025, compared to ₹5,537.39 crore in 2024. The company reported a profit of ₹553.14 crore in 2025, compared to ₹416.79 crore in 2024. Based on the financials, IPO investors should invest in the IPO GMP for the long term.
Tenneco Clean Air IPO Details
| IPO Open Date | November 12, 2025 |
| IPO Close Date | November 14, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹378 to ₹397 Per Share |
| Issue Size | Approx ₹3,600 Crores |
| Offer for Sale: | Approx 9,06,80,101 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Tenneco Clean Air IPO Market Lot
The Tenneco Clean Air IPO minimum market lot is 37 shares with ₹14,689 application amount. The retail investors can apply up-to 13 lots with 481 shares of ₹1,90,957 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 37 | ₹14,689 |
| Retail Maximum | 13 | 481 | ₹1,90,957 |
| S-HNI Minimum | 14 | 518 | ₹2,05,646 |
| S-HNI Maximum | 68 | 2,516 | ₹9,98,852 |
| B-HNI Minimum | 69 | 2,553 | ₹10,13,541 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Tenneco Clean Air IPO Anchor Investors
| Anchor Bidding Date | November 11, 2025 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | – Cr. |
| lock-in period end date 50% shares (30 Days) | December 17, 2025 |
| lock-in period end date 50% shares (90 Days) | February 15, 2026 |
Tenneco Clean Air IPO Dates
The Tenneco Clean Air IPO date is November 12 and the close date is November 14. The Tenneco Clean Air IPO allotment will be finalized on November 17 and the IPO listing on November 19.
| IPO Open Date: | November 12, 2025 |
| IPO Close Date: | November 14, 2025 |
| Basis of Allotment: | November 17, 2025 |
| Refunds: | November 18, 2025 |
| Credit to Demat Account: | November 18, 2025 |
| IPO Listing Date: | November 19, 2025 |
| IPO Bidding Cut-off Time: | November 14, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Tenneco Mauritius Holdings Limited, Tenneco (Mauritius) Limited, Federal-Mogul Investments B.V., Federal-Mogul Pty Ltd and Tenneco LLC.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 40,36,04,309 | 100.00% |
| Promoter Holding Post Issue | 40,36,04,309 | -% |
Tenneco Clean Air was founded in 2018 and began working on the design and manufacture of clean air and powertrain products for automotive applications.
As of March 31, 2025, the company operates 12 manufacturing plants across seven states and one union territory in India, including seven clean air and powertrain solutions plants and five advanced ride technology plants.
They have a local supply chain that adheres to the Tenneco Group's global purchasing standards. In fiscal years 2025, 2024, and 2023, approximately 91-92% of raw material costs (excluding substrates) came from domestic sources.
Tenneco Clean Air IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹4,886.96 | ₹4379.21 | ₹381.04 | ₹2,429.65 |
| 2024 | ₹5,537.39 | ₹4984.28 | ₹416.79 | ₹2,136.26 |
| 2025 | ₹4,931.45 | ₹4198.63 | ₹553.14 | ₹2,831.58 |
| June 2025 | ₹1,316.43 | ₹1,089.21 | ₹168.09 | ₹2,918.77 |
Tenneco Clean Air IPO Valuation – FY2025
Check Tenneco Clean Air IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 42.65% |
| ROCE: | 56.78% |
| EBITDA Margin: | 16.67% |
| PAT Margin: | 11.31% |
| Debt to equity ratio: | (0.17) |
| Earning Per Share (EPS): | ₹13.68 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 46.65% |
| Net Asset Value (NAV): | ₹31.10 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Bosch Ltd | 683.25 | 46.21 | 15.56% | 4,683.48 | ₹18,087.40 Cr. |
| Timken India Ltd | 59.48 | 54.61 | 17.00% | 378.21 | ₹3,147.81 Cr. |
| SKF India Ltd | 114.50 | 40.20 | 21.43% | 525.50 | ₹4,919.90 Cr. |
| ZF Commercial Vehicle Control System India Ltd | 242.90 | 53.71 | 15.35% | 1,694.75 | ₹3,830.96 Cr. |
| Sharda Motor Industries Ltd | 109.71 | 16.92 | 30.46% | 369.92 | ₹2,836.57 Cr. |
| Gabriel India Ltd | 17.05 | 34.73 | 22.42% | 82.38 | ₹4,063.38 Cr. |
| Uno Minda Ltd | 16.42 | 64.51 | 17.66% | 99.75 | ₹16,774.61 Cr. |
| Sona BLW Precision Forgings Ltd | 9.92 | 48.12 | 14.76% | 88.38 | ₹3,546.02 Cr. |
About Tenneco Clean Air India Limited
Established in 2018, Tenneco Clean Air India Limited is a subsidiary of Tenneco Inc., a global leader in the design and manufacture of clean air and powertrain products for automotive applications. The company operates under the Clean Air division and focuses on emission control technologies for both light and commercial vehicles.
In India, Tenneco Clean Air provides advanced exhaust and after-treatment systems, helping vehicle manufacturers meet increasingly stringent emission norms such as Bharat Stage VI. Its product portfolio includes catalytic converters, diesel particulate filters (DPFs), mufflers, and exhaust pipes.
The company has strategically located manufacturing facilities across India to support OEM and Tier 1 customers. It emphasizes sustainability, innovation, and compliance with environmental regulations through advanced R&D and engineering capabilities.
As of March 31, 2025, the company had 12 manufacturing facilities across seven states and one union territory in India, including seven Clean Air and Powertrain Solutions facilities and five Advanced Ride Technologies facilities.
Products:
Clean Air & Powertrain Solutions Division: Clean Air Solutions, Powertrain Solutions
The Advanced Ride Technologies Division designs, manufactures, and sells shock absorbers, struts, and advanced suspension systems.
As of March 31, 2025, the company had 145 employees in its design, engineering, and research and development departments.
Competitive Strengths:
Market-leading supplier of critical, highly engineered, and technology-intensive clean air, powertrain, and suspension solutions to leading Indian and global OEMs.
Strategically diversified portfolio of proprietary products and solutions, tailored to understand market and industry trends.
Innovation-focused approach, supported by our ability to leverage the Tenneco Group's global R&D initiatives to cross-deploy global technologies for proprietary, modular, and customized products at Indian price points.
Flexible and automated manufacturing footprint of 12 strategically located plants, supported by a localized supply chain.
IPO Lead Managers aka Merchant Bankers
- JM Financial Ltd.
- Citigroup Global Markets India Pvt. Ltd.
- Axis Bank Ltd.
- HSBC Securities & Capital Markets (India) Pvt.Ltd.
Company Address
Tenneco Clean Air India Ltd.
RNS2,
Nissan Supplier Park SIPCOT Industrial Park,
Oragadam Industrial Corridor Sriperumbudur Taluk,
Kancheepuram, Tamil Nadu, 602105
Phone: +91 124 4784 530
Email: TennecoIndiaInvestors@tenneco.com
Website: http://www.tennecoindia.com/
IPO Registrar
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: tennecocleanair.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html