Tenneco Clean Air IPO Allotment Status – What Investors Should Know
Tenneco Clean Air IPO Allotment Status – What Investors Should Know
The Tenneco Clean Air India Limited IPO has drawn strong investor interest and the allotment process is now in focus. With the public issue recently closing, applicants are keen to see whether they have secured shares and how the listing might play out.
This article explains how the allotment will work, how you can check your status and what the subscription numbers suggest about market sentiment.
Key Takeaways
- Allotment for Tenneco Clean Air IPO is expected to be finalised shortly.
- The issue saw very high subscription rates across categories.
- Investors can check allotment status via the registrar or stock exchange websites.
- A high grey market premium indicates a positive listing expectation.
Subscription Highlights
The IPO was priced at a band of ₹ 378 to ₹ 397 per share and closed its subscription window as scheduled. Investor response was robust. The issue was overall subscribed more than 60 times, meaning huge demand compared to shares on offer. Retail investors, non-institutional investors (NIIs) and qualified institutional buyers (QIBs) each contributed to the strong mix of bids.
For example, QIBs subscribed over 170 times, which is an indicator of large institutional appetite. On the retail side, subscription was lower comparatively but still several times the quota. These figures show that the market believes in the business strength of Tenneco Clean Air and expects favourable listing gains.
Allotment Status – What Happens Next
Once the bid window closes, the company and registrar process applications and determine the allotment basis. For this IPO, the final allotment date is set out clearly. After allotment, shares will be credited to successful applicants’ demat accounts and refunds to unsuccessful applicants will be processed.
Investors should note: an application does not guarantee allotment. With high oversubscription, many applicants will not receive full allotment or may get nothing in some categories. The basis of allotment will be communicated via official channels.
How to Check Your Allotment Status
You can check your allotment status through multiple portals. Follow these steps:
- Visit the website of the registrar (for example MUFG Intime India).
- Select the company name “Tenneco Clean Air India Limited”.
- Enter your PAN number, application number or demat account number.
- Submit the information and view your allotment status.
Alternatively:
- On the BSE website select
Equity>Issue Name> “Tenneco Clean Air”. Enter your PAN or application number. - On the NSE website go to the ‘IPO’ section and use the ‘Equity & SME IPO Bid Details’ link, then select the issue and enter your credentials.
Successful applicants will see the number of shares allotted and unsuccessful ones will get “0” or similar status. After allotment, shares are credited and refunds are initiated.
Grey Market Premium & Listing Outlook
A notable metric ahead of listing is the grey market premium (GMP). It reflects the extra amount unlisted shares trade for in informal markets. For this IPO the GMP has risen significantly indicating strong belief in a listing gain. If GMP stands at around ₹ 122 over the upper price band, the expected listing price could be near ₹ 519, giving a potential gain of 30 % plus.
This signals that many market participants expect a favourable listing and quick return on listing day. However, grey market levels are not official results and should be taken as indicator rather than guarantee.
What This Means for Investors
For those who applied:
- If you receive allotment, it implies your application was successful and you now hold shares ahead of listing.
- If no allotment, funds will be refunded automatically.
Given the high demand, allocation may be tiny or none for many retail investors. But the strong subscription and GMP suggest that the company has positioned itself well. Listing gains may happen quickly, but long-term value will depend on company performance and auto sector conditions.
Before holding for the long term, check fundamentals such as business model, margin profile, competitive position, regulatory risk (especially in emissions and clean-air tech) and sector outlook.
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