Tenneco Clean Air Limited, a global automotive parts manufacturer specializing in clean air and ride performance products, plans to raise ₹3,600 crore through an IPO.
[Fresh Issue NIL + OFS ₹3,600 Cr]
Tenneco clean air ipo price is ₹378 – ₹397 per share
Tenneco Clean Air: History
The Company was originally incorporated as Tenneco Clean Air India Private Limited, a private limited company under the Companies Act, 2013, at Chennai, Tamil Nadu, India, on December 21, 2018.
The Company was then converted into a public limited company under a special resolution passed by the shareholders on February 21, 2025, and its name was changed to Tenneco Clean Air Limited under a fresh certificate of incorporation issued by the RoC on May 16, 2025.
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Tenneco Clean Air: Business
Tenneco Clean Air Ltd., is a part of the Tenneco Group (headquartered in the USA), is a key global Tier I automotive component supplier.
The Company manufactures and supplies critical, highly engineered, and technology-intensive clean air, powertrain, and suspension solutions tailored for Indian OEMs and export markets.
The Company operates in two business divisions: (1) Clean Air & Powertrain Solutions and (2) Advanced Ride Technologies.
- In Clean Air Solutions, Tenneco designs, manufactures, and sells exhaust after-treatment systems, such as catalytic converters, exhaust pipes, and mufflers to OEMs,
- In Powertrain Solutions, Tenneco designs, manufactures, and sells engine bearings, sealing systems, and ignition products (such as ignition coils and spark plugs) to OEMs and the aftermarket under the Champion brand.
- In the Advanced Ride Technologies division, the company designs, manufactures, and sells shock absorbers, struts, and advanced suspension systems under the Monroe brand to OEMs and the aftermarket. These products are used for both internal combustion engine (ICE) vehicles and electric vehicles (EVs).
Market Share
- The Company is the largest supplier of Clean Air Solutions to Indian CT OEMs, with a market share of 60 percent.
- It is among the top two suppliers of Clean Air Solutions to Indian OH OEMs (excluding tractors) with a market share of 42 percent.
- It is among the top four suppliers of Clean Air Solutions to Indian PV OEMs, with a market share of 20 percent, and
- It is the largest supplier of shock absorbers and struts to Indian PV OEMs, with a market share of 48 percent.
Manufacturing Facilities
As of March 31, 2025, Tenneco has 12 manufacturing facilities, comprising 7 Clean Air & Powertrain Solutions facilities and 5 Advanced Ride Technology facilities, across 7 states and 1 union territory (UT) in India.
Client List
The Company’s client list includes well-known names such as Ashok Leyland, Bajaj Auto, Cummins, Daimler India Commercial Vehicle, Honda Motorcycle, Hyundai Motor, Kirloskar Oil Engines, Mahindra & Mahindra, Maruti Suzuki, Renault Nissan Automotive, Royal Enfield, Skoda Auto, Tata Motors, Toyota Kirloskar Motor, and VE Commercial Vehicles Limited.
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Strategies Ahead
- Capturing market opportunities driven by tightening emission standards
- Capitalizing on trends toward premiumization, EVs, Hybrids, and SUVs,
- Enhancing competitiveness through the “Make in India” initiative
- Positioning operations in India as an export hub with global manufacturing standards
- Focus on R&D and innovation.
- Leverage efficiencies and cross-selling across two divisions to drive the overall growth profile
- Focus on operational efficiencies to ensure sustained improvement in cash generation and profit.
Company Promoters
- Tenneco Mauritius Holdings Limited,
- Tenneco (Mauritius) Limited,
- Federal-Mogul Investments B.V.,
- Federal-Mogul Pty Ltd,
- Tenneco LLC.
Refer to Tenneco Clean Air DRHP for detailed Information.
IPO Details
IPO date: 12 – 14 Nov 2025
Minimum Amount: ₹14,689
Minimum Bid: 37 Shares
Face Value (FV): ₹10
Listing On = NSE, BSE
Book Running Lead Managers
JM Financial
Citigroup Global
Axis Capital
HSBC Securities and Capital
Financial
CONCLUSION
FinBlab recommends ‘SUBSCRIBE‘ ratings on Tenneco Clean Air IPO
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