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Landmark INR36 billion IPO of Tenneco Clean Air India Limited signals continuing global confidence in Indian equity markets

Landmark INR36 billion IPO of Tenneco Clean Air India Limited signals continuing global confidence in Indian equity markets
Published Date
Nov 19 2025
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Image of Pallavi Gopinath Aney
Pallavi Gopinath AneyPartner, Singapore
Image of Mark Leemen
Mark LeemenPartner, Sydney
Image of Serena Upadhyay
Serena UpadhyaySenior Associate, Singapore

A&O Shearman has advised the underwriters on the Rule 144A/Regulation S initial public offering (IPO) of Tenneco Clean Air India Limited, a company promoted by Tenneco LLC, which is owned by funds managed by affiliates of Apollo Global Management, Inc.

The INR36 billion IPO represents a significant milestone in India’s automotive sector and reflects the continuing trend of international groups listing their Indian assets. The shares will be listed on the National Stock Exchange of India Limited and BSE Limited.

Tenneco Clean Air India Limited is part of the Tenneco Group, a U.S. headquartered global Tier I automotive component supplier. The issuer manufactures and supplies critical, highly engineered clean air, powertrain, and suspension solutions tailored for Indian original equipment manufacturers and for the export markets.

“This IPO is a strong signal of investor confidence in India’s industrial innovation and capital markets. It is a privilege to advise on a transaction that bridges global capital with Indian industrial excellence.”

The A&O Shearman team was led by Pallavi Gopinath Aney, with support from Mark Leemen, Serena Upadhyay, and Rajshree Agarwal, drawing on the firm’s global capital markets capabilities and deep knowledge.

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