SAM, Khaitan, A&O Shearman act on Tenneco India ₹3,600 crore IPO

Tenneco Clean Air India Limited has raised ₹3,600 crore (US$ 406 million) from an Initial Public Offering, comprising an offer for sale of 90,680,100 equity shares by the Promoter Selling Shareholder.

Shardul Amarchand Mangaldas & Co advised Tenneco India and the Promoter selling shareholder on this IPO.

The transaction team for Tenneco India Limited was led by Sayantan Dutta (Partner), Sanjana Chowdhary (Principal Associate), Rishika Kharbanda (Associate) and Satakshi N Dixit (Associate). Prashant Gupta (National Practice Head, Capital Markets) provided strategic inputs to the deal. 

The Transaction team for the Promoter selling shareholders was led by Manjari Tyagi (Partner), Jheel Bhargava (Senior Associate) and Bhumika Panigrahi (Associate).

The Capital Markets team was also supported on the corporate advisory for pre-IPO restructuring as well as pre-IPO placement by Gunjan Shah (Partner), Karun Prakash (Partner), Sangamitra Sankaraiah (Partner), Tanay Khanna (Principal Associate), Simran Khullar (Senior Associate) and Aradhana Parmeshwar (Associate).

The Employment law team was led by Pooja Ramchandani (Partner), Kriti Kaushik (Partner), Istuti Kapoor (Senior Associate) and Rakshita Mehta (Associate).

The Governance and Compliance team was led by Alina Arora (Partner) and Parth Singh (Partner).

Rohan Arora (Partner) provided input on the competition law aspect.

Khaitan & Co advised the Book Running Lead Managers i.e., JM Financial Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited and HSBC Securities and Capital Markets (India) Private Limited, on this IPO.

The transaction team consisted of Abhimanyu Bhattacharya (Partner), Aditya Cheriyan (Partner), Oishik Bagchi (Partner), Anshul Mordia (Senior Associate), Ayushi Saumya (Senior Associate), Aayush Virani (Associate), Ria Chaudhary (Associate), Srishti Jain (Associate).

A&O Shearman acted as Legal counsel to the Book Running Lead Managers as to US Law.

The transaction team was led by Pallavi Gopinath Aney (Partner, Co-Head - India Group), with support from Mark Leemen (Partner), Serena Upadhyay (Senior Associate), and Rajshree Agarwal (Associate).

Tenneco Clean Air India 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.

The Issue was closed with an oversubscription of 174.78 times in the QIB portion and an overall oversubscription of 61.79 times.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.