Tenneco Clean Air India Raises ₹1,080 Crore from Anchor Investors Ahead of IPO

Tenneco Clean Air India Limited has raised ₹1,079.99 crore from 58 anchor investors ahead of its initial public offering, which opens for subscription on Wednesday, November 12, 2025.

The company allocated 2.72 crore equity shares to anchor investors at ₹397 per share, representing the upper end of the IPO price band set between ₹378 and ₹397 per equity share.

The public issue will remain open for bidding until Friday, November 14, 2025. Retail investors can apply for a minimum of 37 equity shares and in multiples of 37 shares thereafter.

Major Institutional Participation

Leading domestic and international institutional investors participated in the anchor book. SBI Automotive Opportunities Fund emerged as the largest anchor investor with an allocation of 8.82 lakh shares worth ₹35 crore, representing 3.24% of the anchor portion.

Several international funds made significant investments, with four major institutions—Nomura Funds Ireland India Equity Fund, BlackRock Global Funds India Fund, Government Pension Fund Global, Abu Dhabi Investment Authority Monsoon, and Goldman Sachs Funds India Equity Portfolio—each receiving allocations of 13.60 lakh shares worth ₹54 crore, representing 5% of the anchor book each.

Domestic mutual funds showed strong interest across categories. ICICI Prudential deployed funds across multiple schemes, with ICICI Prudential MNC Fund receiving 7.56 lakh shares. HDFC Mutual Fund participated through six schemes, led by HDFC Children's Fund with an allocation worth ₹31 crore.

Among other prominent investors, Tata Balanced Advantage Fund and Mirae Asset Small Cap Fund each received allocations of 9.57 lakh shares worth ₹38 crore, representing 3.52% of the anchor portion.

Insurance companies also participated, with SBI Life Insurance, ICICI Prudential Life Insurance, and HDFC Life Insurance each receiving allocations of 5.04 lakh shares worth ₹20 crore.

The anchor investor allocation represents a key indicator of institutional confidence ahead of the public offering, with participation spanning domestic mutual funds, insurance companies, and global institutional investors.