The IPO drew exceptionally strong interest, closing with an overall subscription of 61.79 times, making the allotment highly competitive. Retail investors bid 5.37 times their allotted quota, while QIB participation soared to 174.78 times.
The NII segment, too, was robust at 42.79 times. In the grey market, the issue is trading near Rs 123, indicating a potential listing gain of about 31% over the upper price band of Rs 397.
According to brokers, sentiment is likely to remain upbeat thanks to the company’s dominant position in emission-control and ride-technology products, its solid margin profile, and a balance sheet that is almost debt-free.
Tenneco Clean Air manufactures emission-control, powertrain and suspension systems for auto OEMs, supported by 12 plants across India. Its revenue for FY25 stood at Rs 4,931.45 crore, while net profit rose to Rs 553.14 crore, reflecting strong double-digit margins and a high ROCE of 56.78%.
The IPO allotment is also out. For applicants, they can check their status by following the steps below.Here’s how to check the allotment: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 on Submit to view allotment status.
On the BSE website
Visit – https://www.bseindia.com/investors/appli_check.aspx
Choose Equity, select Tenneco Clean Air and enter your application details or PAN.
You will be able to see if shares have been allotted to you.
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