Tenneco Clean Air IPO Listing Today: GMP Hints At Strong Debut, What To Expect From Rs 3,600 Crore IPO?

Tenneco Clean Air IPO Listing Today: Tenneco Clean Air's initial public offering (IPO) is all set to debut in the Indian stock market on Wednesday, November 19. The Rs 3,600 crore IPO received strong subscription in the retail as well as the anchor investor category. The Tenneco Clean Air IPO GMP (grey market premium) indicates a strong listing of the company on NSE and BSE.

As investors closely track Tenneco Clean Air IPO listing today, here is key information about the company, its IPO and long-term outlook by experts.

Tenneco Clean Air IPO Listing Today: What Does IPO GMP Today Indicate?

Tenneco's latest IPO GMP indicated its premium stock market listing. Its latest IPO GMP stood at Rs 103, according to investorgain.com on Tuesday at 10:30 pm. Considering the GMP, the stock is expected to be listed at a price of Rs 500 per share (upper price cap+latest GMP). The company has fixed an upper price band at Rs 397 per share.

Tenneco Clean Air IPO Listing Today: Expert Recommendation

Tenneco India is a part of the Tenneco Group and can utilise the parent firm's 5,000 patents and 7,500 trademarks to design and develop products suitable for the Indian market; hence, the company is positioned for a strong growth outlook. SBI Securities had given a 'Subscribe' recommendation to Tenneco Clean Air IPO and expressed that it can leverage the rising trend of premiumization in the Indian Auto industry.

"At upper price band of Rs 397, the issue is valued at FY25 P/E and EV/EBITDA multiple of 29.0x and 19.3x respectively. We recommend investors to SUBSCRIBE to the issue," SBI Securities in its IPO note earlier.

Tenneco Clean Air IPO Details

The issue was subscribed over 61.79 times during the period, according to Chittorgarh.com. The issued received strong response in the 174.78 times in the QIB (ex-anchor) category and it was subscribed around 5.37 times in the retail category. Whereas, NII category subscribed the IPO by 42.79 times.

The issue is an entirely offer for sale (OFS) of 9.08 crore shares worth Rs 3,600 crore. The IPO had fixed an upper price band at Rs 397 per share. Whereas, the lot size for an application is 38 shares. For retail investors, the minimum amount of investment is Rs 14,689 crore (based on upper price). Whereas, the lot size for sNII is 14 lots, ie 518 shares worth Rs 2,05,646 and for bNII, it is 69 lots, equivalent to 2,553 shares, worth Rs 10,13,541.

About Tenneco Clean Air

Tenneco is a subsidiary of a US-based tier 1 automotive component supplier. Its parent firm manufactures and supplies critical, highly engineered and technologically intensive clean air, powertrain and suspension solutions tailored for Indian OEMs and export markets.

The company operates two distinct business verticals, Clean Air & Powertrain Solutions, and Advanced Ride Technologies.