Description

Listing of 40,36,04,309 equity shares of Tenneco Clean Air India Limited with lock-in details for various shareholder categories including anchor investors, public, and Alternative Investment Funds.

Summary

BSE has listed 40,36,04,309 equity shares of Tenneco Clean Air India Limited (formerly Tenneco Clean Air India Private Limited) following the company’s IPO. The listing includes shares under various lock-in periods for different shareholder categories including anchor investors (with 30-day and 90-day lock-ins), Alternative Investment Funds, and public shareholders. The company previously underwent capital reduction cancelling a total of 56,36,24,291 equity shares pursuant to NCLT orders.

Key Points

  • Total equity shares listed: 40,36,04,309 (all in demat form)
  • Company CIN: U29308TN2018FLC126510
  • Registered Office: RNS2, Nissan Supplier Park SIPCOT Industrial Park, Oragadam Industrial Corridor, Sriperumbudur Taluk, Kancheepuram District - 602 105, Tamil Nadu
  • IPO Public shares: 6,34,76,070 equity shares (not under lock-in)
  • Anchor investor shares: 2,72,34,030 equity shares with staggered lock-in periods
  • Historical capital reduction: 56,36,24,291 equity shares cancelled pursuant to NCLT orders
  • All shares are in dematerialized form

Lock-in Details

Anchor Investors

  • 1,36,02,002 equity shares: Lock-in from November 17, 2025 to December 16, 2025 (30 days)
  • 1,36,02,028 equity shares: Lock-in from November 17, 2025 to February 14, 2026 (90 days)

Alternative Investment Fund (AIF)

  • 32,61,964 equity shares: Lock-in from October 30, 2025 to April 29, 2026
  • Locked-in as per Regulation 17(c) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

Other Categories Under Lock-in

  • 30,000 equity shares: Lock-in until May 17, 2026
  • 2,39,44,197 equity shares: Lock-in from November 17, 2025 to May 17, 2026
  • 8,07,70,862 equity shares: Lock-in from November 17, 2025 to May 17, 2027 (2 years)
  • 1,54,01,706 equity shares: Lock-in from November 17, 2025 to May 17, 2026
  • 18,95,15,480 equity shares: Lock-in from November 17, 2025 to May 17, 2026

IPO Public Shares

  • 6,34,76,070 equity shares: Not under lock-in (freely tradable)

Regulatory Changes

No new regulatory changes introduced. The listing follows existing SEBI regulations:

  • SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 - Regulation 17(c) for AIF lock-in requirements
  • Standard IPO lock-in norms for anchor investors (30/90 days)

Compliance Requirements

  • Shareholders holding locked-in shares must comply with respective lock-in periods and cannot transfer shares until lock-in expiry
  • Anchor investors must maintain 30-day or 90-day lock-in as applicable
  • Alternative Investment Funds must comply with lock-in until April 29, 2026
  • Company Secretary and Compliance Officer: Roopali Singh (Membership No.: A15006)

Important Dates

  • Prospectus Date: November 14, 2025
  • Listing Date: November 17, 2025
  • 30-day Anchor Lock-in Expiry: December 16, 2025
  • 90-day Anchor Lock-in Expiry: February 14, 2026
  • AIF Lock-in Expiry: April 29, 2026
  • General Lock-in Expiry (6 months): May 17, 2026
  • Extended Lock-in Expiry (2 years): May 17, 2027

Historical Dates (Capital Reduction)

  • NCLT Chennai Bench Order 1: April 24, 2021 (cancellation of 46,43,07,000 shares)
  • NCLT Chennai Bench Order 2: February 1, 2023 (cancellation of 9,93,17,291 shares)
  • NCLT Chennai Bench Order 3: November 23, 2023

Impact Assessment

Market Impact: Medium - The listing adds a new automotive component manufacturer to BSE. With over 6.34 crore shares freely tradable from day one (IPO public portion), the stock provides immediate liquidity for investors. The staggered lock-in releases over the next two years will gradually increase available float.

Operational Impact: The listing enables Tenneco Clean Air India Limited to access public capital markets for future fundraising and provides enhanced corporate visibility. The company operates in the automotive exhaust systems and clean air solutions sector.

Investor Impact: Different investor categories face varying liquidity constraints. Retail and institutional investors who participated in the IPO public portion can trade freely, while anchor investors and promoters/early investors face restrictions ranging from 30 days to 2 years. The complex capital structure history (with 56.36 crore shares previously cancelled) requires careful analysis by potential investors.

Sector Context: Tenneco is a global automotive supplier, and this listing represents the Indian subsidiary’s public market debut, providing investors exposure to the automotive components and emission control systems sector.

Impact Justification

New listing of equity shares with specific lock-in requirements for different investor categories. Material for shareholders and potential investors in Tenneco Clean Air India Limited.