Mumbai: Tenneco Clean Air India Limited, a maker of automotive components, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for approval. The company plans to raise Rs 3,000 crore through this public offering.
This IPO will be entirely an Offer for Sale (OFS). That means no fresh shares will be issued. The funds raised will go to the selling shareholders, not the company itself.
Who is Selling Shares and Managing the IPO?
The shares will be sold by Tenneco Mauritius Holdings Limited, the promoter.
The book running lead managers for the IPO are:
- JM Financial
- Citigroup Global Markets India
- Axis Capital
- HSBC Securities & Capital Markets (India) Pvt. Ltd.
Tenneco Clean Air India is a subsidiary of the U.S.-based Tenneco Group.
What Does the Company Do?
Tenneco Clean Air India manufactures and supplies clean air systems, powertrain components, and suspension solutions. These products are mainly for original equipment manufacturers (OEMs) in India and for export markets.
Its promoters also include:
- Tenneco (Mauritius) Limited
- Federal-Mogul Investment B.V.
- Federal-Mogul Private Limited
- Tenneco LLC
Presence in India
The company operates 12 manufacturing plants across India. In FY 2024–25, it served 119 customers, including India’s top 7 passenger vehicle OEMs and top 5 commercial vehicle OEMs.
Company’s Financial Performance
In FY 2024–25:
- Net profit rose by 32.7% to Rs 553.1 crore.
- However, revenue declined by 10.6% to Rs 4,890.4 crore.
Who Are the Competitors?
Tenneco Clean Air India competes with several listed companies in India, including:
- Bosch
- Uno Minda
- SKF India
- Timken India
- Gabriel India
- Sharda Motor Industries
- Sona BLW Precision Forgings
- ZF Commercial Vehicle Control Systems India
(Disclaimer: This information is for awareness only. Investments in the stock market carry risks. Always consult a financial advisor before investing.)
