New Delhi: Tenneco Clean Air India Ltd, part of the US-headquartered Tenneco Group, on Friday announced a price band of Rs 378-397 per share for its upcoming Initial Public Offering (IPO), aiming for a valuation of over Rs 16,000 crore at the upper end.

The Rs 3,600-crore IPO will be opened for public subscription on November 12 and conclude on November 14. Anchor investors will be allocated shares on November 11, the company said in a public announcement.

The proposed IPO is entirely an Offer for Sale (OFS) by the promoter Tenneco Mauritius Holdings Ltd, with no fresh equity issuance. The company has raised its issue size to Rs 3,600 crore from Rs 3,000 crore planned earlier, according to the draft papers filed in June.

Since the issue is entirely an OFS, the company will not receive a

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