Tenneco Clean Air IPO witnessed a massive investor response after getting subscribed over 58 times on both the stock market exchanges.
As per the official website of the National Stock Exchange (NSE), the initial public offering (IPO) of Tenneco Clean Air was subscribed a total of 58.81 times as of 4.48 pm on November 14.
The strong public demand was reflected in the subscription rates, which showed the Qualified Institutional Buyers applying 166.42 times their share. Non Institutional Investors subscribed 40.73 times and Retail Individual Investors subscribed 5.07 times, respectively.
Tenneco Clean Air IPO allotment and listing dates:
The public bidding, which commenced on November 12, received applications till November 14. The shares are expected to be allotted to subscribers on November 17 and the listing of shares is expected to be held on November 19.
Investment details:
Interested individuals could subscribe to the IPO for a minimum investment of Rs 13,986 per lot, which would have 37 shares. With an issue size of Rs 3600 crore, the price range has been set at Rs 378-397.
The IPO is an Offer for sale (OFS) and the net proceeds from the offer will go to the promoter selling shareholder.
Latest GMP details:
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Various media houses reported the latest grey market premium of the ipo to be in the range of Rs 78 per share, corresponding to an almost 20 per cent listing gain for investors who are allotted the shares. People need to note that GMP is an unofficial market indicator and can fluctuate significantly before listing.
About Tenneco Clean Air:
The firm is a part of the US-headquartered Tenneco Group, a global Tier I supplier of automotive components. They design, manufacture and supply clean air, powertrain and suspension solutions for Indian and international original equipment manufacturers (OEMs).