Tenneco Clean Air India Sets IPO Price Band, Eyes Major Valuation

Tenneco Clean Air India Ltd is launching an IPO with a price band of Rs 378-397 per share, seeking a valuation over Rs 16,000 crore. The IPO, opening November 12, is an Offer for Sale by Tenneco Mauritius Holdings Ltd, with proceeds going to the selling shareholder.

Tenneco Clean Air India Ltd, a division of the US-based Tenneco Group, has announced a price range of Rs 378-397 for its impending Initial Public Offering (IPO), hoping to achieve a valuation exceeding Rs 16,000 crore.

The IPO, valued at Rs 3,600 crore, will be open to public subscription from November 12 to November 14, with anchor investors set to receive shares on November 11.

The entire offering, structured as an Offer for Sale (OFS) by Tenneco Mauritius Holdings Ltd, aims to achieve the benefits of listing without issuing new equity, directing all raised funds to the selling shareholder.

(With inputs from agencies.)