Tenneco Group entities pare stake in Tenneco Clean Air India

Tenneco Group entities have divested 15% stake in Tenneco Clean Air India through open market transactions worth around Rs 3,180.04 crore. The Tenneco Mauritius Holdings has offloaded 3.02 crore shares at an average price of Rs 525.50 apiece and another 2.03 crore shares at an average price of Rs 525.07 apiece. Further, Tenneco (Mauritius) has sold 99.67 lakh shares at an average price of Rs 525 per share. The transaction together amounted to 6.05 crore shares, representing 15% of total shareholding, of the company. 

Meanwhile, SBI Mutual Fund has bought around 1.45 shares, representing 3.59% stake in the company, for Rs 760.69 crore, while HDFC Mutual Fund acquired 20.19 lakh shares, 0.5% stake, for Rs 106.01 crore.

Tenneco Clean Air India is part of the Tenneco Group, a U.S. headquartered key global Tier I automotive component supplier. The company is engaged in the manufacture and supply of automotive components, shock absorbers, struts, catalytic converters, mufflers and exhaust pipes.