Overview
- Tenneco Clean Air India is set to finalise share allotments on November 17, with status available on BSE, NSE and MUFG Intime portals.
- Overall demand was heavy at about 61.8 times, led by qualified institutional buyers who bid around 166x–175x, with retail and NII categories also multiple times covered.
- The latest grey market premium stands at Rs 122, implying an estimated listing price near Rs 519 and potential gains of about 30.7% over the Rs 378–397 band.
- Shares are slated to be credited and refunds processed on November 18, with a tentative listing on the BSE and NSE on November 19.
- The Rs 3,600 crore offering is entirely an offer-for-sale at a price band of Rs 378–397 per share, so proceeds go to selling shareholders rather than the company.