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Tenneco Clean Air India IPO registers 21.5% grey-market premium on day two
Tenneco Clean Air India’s ₹3,600 crore IPO shows 21.
The Tenneco Clean Air India IPO, valued at ₹3,600 crore and priced between ₹378-₹397, saw a grey-market premium (GMP) of 21.5% on Day 2, indicating listing expectations near ₹482 per share. Subscription till midday reached around 42% overall, with retail at ~36% and NIIs at ~1.11×. The company reported FY25 revenue of ₹4,890 crore and PAT of ₹553 crore, with a ROCE of 57%.
Its manufacturing plants operate at over 80% capacity and the firm services 52% of the domestic shock absorber market. Listing date is set for November 19 on NSE/BSE.