U.S headquartered Tenneco Group Auto component company Tenneco Clean Air India made a strong market debut on the Indian stock exchange today, November 19th. Following strong investor interest and strong subscriptions, the listing was closely watched by the market. The company’s shares were listed simultaneously on both the BSE and NSE today. The IPO was for Rs 3600 Crore with 9.07 Crore shares as 100 percent OFS.
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Tenneco Clean Air India made a strong debut on the stock market, listing at a 27 percent premium to its initial public offering (IPO) price on Wednesday. The offering had received massive response in terms of number of subscriptions during the bidding period. On the NSE, Tenneco Clean Air India shares opened at Rs 509 each, reflecting around 27 percent premium over the IPO price range of Rs 397 per share. Meanwhile, on the BSE, the stock listed at Rs498 per share, marking a 25.44 percent premium.
The proceeds collected through the issue will go to shareholders other than the company. JM Financial Ltd, HSBC Securities, Axis Capital, and Capital Markets (India) Pvt Ltd are Book Running Lead Managers of the issue.
