2 days ago
Tenneco Clean Air India files DRHP for Rs 3,000 cr IPO
Mumbai: Tenneco Clean Air India Ltd, a subsidiary of global
auto component supplier
Tenneco Group, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for an
initial public offering
(IPO) of Rs 3,000 crore.
The issue is a pure offer for sale by promoter Tenneco Mauritius Holdings Ltd, with no fresh issue of shares. Accordingly, the company will not receive any proceeds from the IPO.
by Taboola
by Taboola
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Tenneco Clean Air India operates 12 manufacturing facilities and provides clean air, powertrain and suspension solutions. In 2024-25, it catered to 119 customers, including top seven passenger vehicle original equipment manufacturers (OEMs) and top five commercial truck OEMs in India.
The company is the largest supplier of clean air systems to Indian commercial truck makers, with a 60%
market share
, and among the top two suppliers for off-highway vehicle OEMs (excluding tractors) with a 42% share.
The IPO is being managed by
JM Financial Limited
, Citigroup Global Markets India Pvt Ltd,
Axis Capital Limited
and HSBC Securities and Capital Markets (India) Pvt Ltd, who are acting as the book running lead managers to the offer.
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