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Shares of Tenneco Clean Air India Ltd ended at ₹550.00, down by ₹4.30, or 0.78%, on the BSE.
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Auto component manufacturer Tenneco Clean Air India Ltd's promoter entity, Tenneco Mauritius, is likely to sell an 8% stake in the company through a block deal, with an upsize option of another 2%, according to the deal terms.
The floor price has been set at ₹515 per share, implying a 6.4% discount to the last closing price. The base offer size is ₹1,663 crore, while the upsize option is worth ₹416 crore.
The promoter entity will have a lock-up period of 90 days on any further sale of shares.
Tenneco Clean Air India is part of the Tenneco Group, a US-headquartered automotive component supplier. It manufactures and supplies critical, highly engineered and technology-intensive clean air, powertrain and suspension solutions tailored for Indian OEMs and export markets.
Shares of Tenneco Clean Air India Ltd ended at ₹550.00, down by ₹4.30, or 0.78%, on the BSE.
HomeMarket NewsStocks NewsTenneco Clean Air Block Deal: Promoter Tenneco Mauritius likely to sell 8% stake at ₹515/share
