Tenneco Clean Air IPO Lists At 27% Premium: Should You Buy, Sell Or Hold?

Tenneco Clean Air India IPO Listing.

Tenneco Clean Air Listing, Tenneco Clean Air Share Price: Tenneco Clean Air India Ltd, part of US-based Tenneco Group, made a strong stock market listing on Wednesday, November 19. In the pre-market, the stock settled at Rs 505 apiece on the NSE, which is a 27.2% premium over the issue price of Rs 397. Later, on the opening, the stock rose to trade at Rs 513.35 apiece on the NSE, as of 10:02 am.

On the BSE, the stock was listed at Rs 498 apiece, a 25.44% premium as against the issue price.

The market cap of the company stands at Rs 19,913.84 crore.

The price band of the Tenneco Clean Air IPO was in the range of Rs 378 to Rs 397 per share. The company raised Rs 3,600 crore from the book-building issue, which was entirely an offer for sale (OFS) of 9.07 crore equity shares.

Tenneco Clean Air IPO was subscribed 48.73 times in total, NSE data showed. The public issue was subscribed 7.05 times in the Retail Individual Investors (RIIs) category, and 54.42 times in the Non Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIBs) category received a massive 117.63 times subscription.

Tenneco Clean Air IPO Listing: Should You Hold, Buy Or Sell?

Shivani Nyati, head of wealth at Swastika Investmart Ltd, said, “Tenneco Clean Air India Ltd. made a positive debut on the stock market, listing at Rs 505 per share, a premium of 27.20% over its issue price of Rs 397. The strong opening was supported by investor confidence in the company’s global backing, advanced clean-air and emission-control technology, and long-standing relationships with major automobile OEMs. Its diversified product range and alignment with tightening emission norms further strengthened sentiment.”

Despite the upbeat debut, some caution remains due to the auto sector’s cyclicality, dependence on OEM volumes, and raw-material–linked margin pressures. The IPO attracted solid institutional interest, driven by expectations of steady demand for emission-control systems and operational gains as scale improves. “Allottees may consider booking partial gains and holding the rest with a stop-loss near Rs 480,” she added.

Brokerages had also shared the subscribe rating to the IPO due to the company’s long-term potential.

Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Shares and Stock Brokers, said the IPO looks “fully priced”, pointing out that it commands a price-to-earnings ratio of 23.8 times FY26 annualised earnings and a market-cap-to-sales multiple of 3.2 times. He noted that the post-issue market capitalisation comes to around Rs 16,023 crore. Even with the rich valuations, Solanki believes the company’s dominance in clean air systems, its diversified offerings and innovation supported by global expertise strengthen its long-term growth outlook. He suggested that investors may look to hold the stock after listing.

Shruti Jain, Chief Strategy Officer at Arihant Capital Markets, said investors could book profits if the stock debuts with a hefty premium. However, she added that long-term investors may still hold the stock, given the firm’s presence in a niche segment with strong products and healthy long-term potential.