Tenneco Clean Air India shares settle 23% higher over IPO price on NSE; should you buy, sell or hold?

Tenneco Clean Air India shares listed on the stock exchanges on November 19. 

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26 Aug, 2025 12:21

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Tenneco Clean Air India shares settled 23.43 perent higher on the debut day on Wednesday at Rs 490 per share on National Stock Exchange (NSE). The stock, however, finished the trading session 2.97 percent lower from its open price today.

The stock had made a bumper stock market debut to list at over 27 percent premium over its initial public offer (IPO) price. The Rs 3,600-crore issue was subscribed 59 times between November 12-14 in the primary market.

Shares of Tenneco Clean Air India Ltd, part of US-based Tenneco Group, were listed at Rs 505 per share on the National Stock Exchange (NSE), a strong premium of 27.2 percent. The IPO had a price band of Rs 378-397 per share.

On the BSE, the shares of the company were listed at Rs 498 per share, a healthy premium of 25.44 percent. The company's market capitalizatino post listing of shares stood at Rs 20,099.49 crore.

Tenneco Clean Air India share market debut was almost at par with expectations in the grey market which had expected a premium listing of about 26 percent.

Earlier, the company raised Rs 1,080 crore from anchor investors.

Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Shares and Stock Brokers, said the issue appears “fully priced”, noting that the IPO is valued at a price-to-earnings multiple of 23.8 times FY26 annualised earnings and a market-cap-to-sales ratio of 3.2 times. “The post-issue market capitalisation works out to about Rs 16,023 crore. Despite valuations, the company’s leadership in clean air systems, its diversified portfolio and global-backed innovation support long-term growth prospects. Investors may hold the issue for the long term post listing,” he said.

Tenneco Clean Air India manufactures and supplies critical, highly engineered, technology-intensive clean air, powertrain, and suspension solutions tailored for Indian original equipment manufacturers and export markets.