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.
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.
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.
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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