Tenneco Clean Air IPO: Strong GMP on allocation day. Here’s how to check the status of MUFG Intime and BSE

The allotment for the Rs 3,600 crore Tenneco Clean Air India IPO will be completed on November 17 and investors can check their status on the registrar’s website MUFG Intime or via the BSE. The issue saw huge demand, with a total subscription of 61.79 times, making the allocation extremely tight. The retail category bid 5.37 times, while QIBs bid a whopping 174.78 times.The NII portion closed at 42.79 times. On the gray market, the IPO is trading at around Rs 123, implying a listing premium of almost 31% over the issue’s highest price of Rs 397.

The IPO is a pure share sale offer of Rs 9.07 crore and will be listed on the NSE and BSE on November 19. The company raised Rs 1,080 crore from major investors on November 11.

To check the assignment:

Website of the Registrar (MUFG Intime India)

Visit https://www.mufgintime.com/ipo/

Select Groww (Billionbrains Garage Ventures) from the drop-down list.

Enter your PAN or application number and click Submit to view the allotment status.

On the BSE website (https://www.bseindia.com/investors/appli_check.aspx)Choose Equity, select Groww and enter your application details or PAN.

You can see if any shares have been allocated to you.

List prospects

The strong enrollment rate, robust financials and healthy gray market premium point to a solid listing for Tenneco Clean Air on November 19. Brokers expect interest to continue given the company’s leadership in emissions control and driving technology systems, high-margin profile and virtually debt-free balance sheet.

The GMP for the share is healthy at 31% above the issue price, indicating healthy listing prospects.

About the company

Tenneco Clean Air manufactures emission control, powertrain and suspension systems for automotive OEMs, supported by 12 factories across India. Revenue for FY25 stood at Rs 4,931.45 crore, while net profit rose to Rs 553.14 crore, on the back of strong double-digit margins and a high ROCE of 56.78%.

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