Tenneco Clean Air India Limited (incorporated in 2018) is a subsidiary of Tenneco Inc., a global leader in designing and manufacturing clean air and powertrain products for automotive applications. The company operates within the Clean Air division, focusing on emission control technologies for both light and commercial vehicles.

In India, Tenneco Clean Air provides advanced exhaust and after-treatment systems, helping vehicle manufacturers meet increasingly stringent emission norms such as Bharat Stage VI. Its product portfolio includes catalytic converters, diesel particulate filters (DPFs), mufflers, and exhaust pipes.

The company has manufacturing facilities strategically located across India to support OEMs and Tier 1 customers. It emphasizes sustainability, innovation, and compliance with environmental regulations through advanced R&D and engineering capabilities.

As of March 31, 2025, the company has 12 manufacturing facilities, comprising seven Clean Air & Powertrain Solutions facilities and five Advanced Ride Technology facilities, across seven states and one union territory in India.

Products:

• The Clean Air & Powertrain Solutions division: Clean Air Solutions, Powertrain Solutions
• The Advanced Ride Technologies division designs, manufactures and sells shock absorbers, struts and advanced suspension systems.

As of March 31, 2025, the company had 145 employees dedicated to the design, engineering and R&D department

For the year/period ended (Rs. in Cr.)

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*Market cap @upper band (As on November 11, 2025)  

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• Market leading supplier of critical, highly engineered and technology intensive clean air, powertrain and suspension solutions to leading Indian and global OEMs
• Strategically diversified portfolio of proprietary products and solutions well positioned to capture market and industry trends
• Innovation-focused approach aided by our ability to leverage Tenneco Group’s global R&D initiatives to cross-deploy global technologies for proprietary, modular and customized products at Indian price points
• Flexible and automated manufacturing footprint of 12 strategically located plants well-supported by a localized supply chain

The Company Tenneco Clean Air Ltd.  IPO is purely an offer-for-sale (OFS) offering with an issue size of Rs 3600 Cr.

Tenneco Clean Air India aims to capitalize on the growing demand for clean mobility solutions in India and abroad. The entire amount with equity shares will be transferred to the promoter(s). The objectives are as follows:

Enhancing brand visibility: Listing on Indian exchanges will strengthen Tenneco’s brand recall among OEMs and suppliers.

Providing liquidity to existing shareholders: The parent company and investors will partially monetize their holdings.

Creating a public market for shares: Enables easier capital access for potential future expansion or acquisitions.

Improving corporate governance and transparency: Post-listing compliance with SEBI norms will enhance investor confidence.

At the upper band of IPO ₹ 397, the stock is valued at 29.0x of P/E multiple. Hence, well-informed investors may subscribe for medium to long term perspective.