The IPO attracted exceptionally strong interest, closing with an aggregate subscription of 61.79 times, making the allotment highly competitive. Retail investors bid 5.37 times their allotted quota, while QIB participation increased to 174.78 times.
The NII segment was also strong at 42.79 times. In gray market, issue Rs. 123 which is trading near Rs. Above the upper price band of 397 indicates a potential listing gain of around 31%.
According to brokers, sentiment is likely to remain upbeat due to the company’s strong position in emissions-control and ride-technology products, its solid margin profile and nearly debt-free balance sheet.
Tenneco Clean Air manufactures emission-control, powertrain and suspension systems for auto OEMs, supported by 12 plants across India. Its revenue for FY25 is Rs. 4,931.45 crore, while the net profit rose to Rs. 553.14 crore, showing strong double-digit margins and a high ROCE of 56.78%.
IPO allotment is also out. For applicants, they can check their status by following the steps below.
Here’s how to check allocation:
Registrar’s Website (MUFG Intime India)
Visit – https://www.mufgintime.com/ipo/
Select Tenneco Clean Air from the dropdown.
Enter your PAN or application number and click submit to check the allotment status.
on the BSE website
Visit – https://www.bseindia.com/investors/appli_check.aspx
Select Equity, select Tenneco Clean Air and enter your application details or PAN.
You will be able to see if you have been allotted shares.
Also read | Shares of Physixwala rose 13% in debut trade after a solid listing pop. Should you buy, sell or hold?
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