Will the Indian initial public offering of the auto parts company under Apollo Global Management's control be valued at over $3 billion as it prepares for stock market debut?
In a significant move, Tenneco Clean Air India Ltd, a leading player in clean air systems for commercial vehicles, has announced plans to go public through an Initial Public Offering (IPO) [1]. The company, which is owned by the private equity firm Apollo Global Management, is based in India and operates in the auto components sector [2].
Tenneco Clean Air India Ltd's decision to join the Mumbai-listed peers in the auto components sector comes at a time when several other companies have also filed for IPOs. Notably, ICICI Prudential Asset Management has filed for an IPO, and PE-backed Veeda and Seedworks have received SEBI nod for their IPOs [5].
The local units of Indian companies are among the Mumbai-listed peers of Tenneco Clean Air India Ltd. These include Bosch India, Timken India, SKF India, and ZF Commercial Vehicle Control, which are all significant players in the automotive components industry [6]. ZF Commercial Vehicle Control is a division of ZF India, another key player in the sector.
Tenneco Clean Air India Ltd is a part of the Tenneco Group, a US-based auto components manufacturer, and its planned IPO is for ₹3,000 crore [3][4]. The company's move into the public market is a testament to its strong position within the automotive exhaust and clean air systems sector.
However, not all companies have been successful in their IPO endeavours. Reliance Jio has delayed its IPO and a 2025 listing is not on the cards [7]. Meanwhile, a co-working firm has gone public, with some family offices, including Taparias, in the green but others underwater [8].
As Tenneco Clean Air India Ltd prepares for its IPO, investors and industry observers will be closely watching its progress. With its focus on clean air systems for commercial vehicles, the company offers a unique proposition in the auto components sector, making it an interesting addition to the Mumbai stock exchange.
The upcoming Initial Public Offering (IPO) by Tenneco Clean Air India Ltd, a company renowned for its clean air systems in the commercial vehicle sector, indicates its expansion into the public market and financial growth within the automotive exhaust and clean air systems sector. Investors and industry experts eagerly anticipate the progress of Tenneco Clean Air India Ltd in the Mumbai stock exchange due to its unique focus on clean air systems for commercial vehicles, setting it apart as an interesting addition to the auto components sector.
