Tenneco Clean Air India IPO Lists at ₹505, Up 27.20% Against its Issue Price

Mumbai, November 19: Tenneco Clean Air India IPO has made a strong debut on stock exchanges today, on November 19. The Tenneco Clean Air India IPO listed at ₹505 per share with a premium of 27.20% above its issue price of ₹397 per share. As of 1:05 PM, Tenneco Clean Air India’s share price was up by 27%, or 107.20 points and was trading at ₹504.20. Until now, the shares have traded within a range of ₹517 and ₹480.10. The traded volume stood at 7.77 crore shares.

Key Details About Tenneco Clean Air India IPO

The ₹3,600 crore Tenneco Clean Air India IPO was an entirely fresh issue of 9.07 crore shares, with no offer for sale element. Tenneco Clean Air India IPO price band was set at ₹378 to ₹397 per share, and was finalised at ₹397 per share. The lot size was 37 shares per application, with a minimum investment amount by a retail investor of ₹14,689 (37 shares) at the upper price band. JM Financial Ltd. was the book-running lead manager, and MUFG Intime India Pvt.Ltd was the registrar of the issue.

Tenneco Clean Air India IPO Anchor Allocation

Before the IPO, Tenneco Clean Air India raised ₹1,080 crore from anchor investors by allocating 2.72 crore shares at ₹397 per share. Key investors included SBI, HDFC, ICICI Prudential, Kotak, Axis, BlackRock, Fidelity, Nomura, and the Government Pension Fund Global.

Tenneco Clean Air India IPO Subscription Snapshot

The Tenneco Clean Air India IPO was subscribed 61.79 times overall, with Qualified Institutional Buyers (QIBs) subscribing 174.78 times, Non-Institutional Investors 42.79 times, and retail investors 5.37 times. In total, the IPO received 3,92,21,37,714 bids for 6,34,76,070 shares on offer.

Investor Takeaway

Tenneco Clean Air India’s IPO debuted with impressive gains, offering strong returns to investors on the first day. The shares have maintained their positive momentum since listing. Market participants are now hoping the stock continues to rise in the coming days, without facing significant selling pressure from investors looking to book profits.

REF: https://www.nseindia.com/get-quotes/equity?symbol=TENNIND

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