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Tenneco Clean Air India IPO Review

Tenneco Clean Air India IPO has been reviewed by 15 analysts, and the overall consensus is Strong Apply — carrying a score of 94. Out of the 15 analysts who have covered this IPO, 13 recommend subscribing while 2 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹378-397 per share, with a minimum application size of 37 shares (minimum investment of approximately ₹14,689 at the upper band). Subscription ran from 12 Nov 2025 to 14 Nov 2025. The issue size is ₹3,600 crore, entirely an offer for sale — the company receives none of the proceeds. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
94/ 100
Strong Apply 13 of 15 recommend subscribing
How analysts voted
Apply 13
Neutral 2
Not rated 3

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Incorporated in 2018, Tenneco Clean Air India Limited is a subsidiary of Tenneco Inc., a global leader in designing and manufacturing clean air and powertrain products for automotive applications. The company operates within the Clean Air division, focusing on emission control technologies for both light and commercial vehicles.

In India, Tenneco Clean Air provides advanced exhaust and after-treatment systems, helping vehicle manufacturers meet increasingly stringent emission norms such as Bharat Stage VI. Its product portfolio includes catalytic converters, diesel particulate filters (DPFs), mufflers, and exhaust pipes.

Listing gains

The notes value the issue between about 24 and 29 times earnings at the ₹397 upper band, with price to book near 12.7 times, against an industry average around 48 times. Analysts repeatedly call that a considerable discount to peers, and thirteen of seventeen said subscribe.

Short-term strategy

Operating margin improved sharply to 16.1 percent in FY25 from 10.7 percent in FY24, even though revenue fell from ₹5,537.39 crore to ₹4,931.45 crore. The June 2025 quarter delivered ₹1,316.43 crore of revenue. Margin expansion rather than volume growth is what drove the recent earnings improvement.

Long-term strategy

The notes credit accelerating platform launches, content enrichment across passenger vehicle and commercial vehicle segments, and high scalability without major capacity investment. Because clean air products track emission regulation, long-term demand follows tightening norms rather than vehicle volumes alone.

How this is written: an AI-assisted summary of the 18 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Tenneco Clean Air India IPO?

The analyst consensus for Tenneco Clean Air India IPO tracked on this page is Strong Apply, with a score of 94/100. Out of 15 analysts who have reviewed this IPO, 13 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 94 mean for Tenneco Clean Air India IPO?

The score of 94 is an aggregate of all analyst ratings tracked for Tenneco Clean Air India IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Tenneco Clean Air India IPO?

Tenneco Clean Air India IPO listed on November 19, 2025 at ₹505, against the issue price of ₹397 — a gain of +27.2% (₹108 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Tenneco Clean Air India IPO?

Tenneco Clean Air India IPO was priced at ₹378-397 per share. The minimum lot size is 37 shares, making the minimum investment approximately ₹14,689 at the upper end of the price band. Subscription ran from 12 Nov 2025 to 14 Nov 2025.

Explore Tenneco Clean Air India IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Tenneco Clean Air India IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strong Apply
Score
94 / 100
Listed at
₹505
Full IPO details