Tenneco IPO draws buyers but electrification risks half its revenue and stalled capex

Half its revenue is tied to electrification transition—can it adapt fast enough

Tenneco India’s IPO is drawing interest for its strong franchise, market leadership, and seemingly fair valuation, with solid historical returns. Yet the growth runway looks less certain: electrification could hit around half its revenue streams, while capex investment has stayed relatively low. Investors may like the numbers, but the “next lap” depends on how quickly it pivots.