Tata Motors Demerger: Commercial Vehicle Arm Shares To List On November 12 - Here's What Investors Need To Know

Tata Motors Demerger: Tata Motors’ demerged commercial vehicle business, now renamed Tata Motors Ltd, is set to list on the NSE and BSE on November 12, 2025. The shares will trade in the ‘T’ Group for the initial 10 sessions, where trading is done only on a trade-to-trade basis. This means only delivery-based transactions will be allowed and no intraday trading.

This listing would complete Tata Motors’ restructuring plan, which created two separate listed entities - one for passenger vehicles and EVs, and the other for commercial vehicles. The Mumbai Bench of the National Company Law Tribunal (NCLT) had approved the demerger scheme earlier this year.

Tata Motors Commercial Vehicles Share Entitlement Ratio

Tata Motors had earlier said that shareholders would receive one share of the demerged commercial vehicle business for each share they held in the parent company as of October 14, 2025. Shareholders who held Tata Motors shares as of the record date, will get one share of the demerged commercial vehicle business, TMLCV, for each share they held.

A total of 368 crore equity shares, each with a face value of Rs 2, will be listed under the ticker TMCV.

Tata Motors Commercial Vehicles Valuation

Tata Motors Passenger Vehicles started trading after the demerger on October 14 at Rs 400 per share. The pre-demerger closing price of Tata Motors shares was Rs 660.75. This suggests the commercial vehicles business, which is yet to list, is likely to be valued at around Rs 260 per share. This takes its total market capitalisation to Rs 95,680 crore.

SBI Securities expects TMCV shares to list in the range of Rs 320 to Rs 470. The brokerage sees a recovery in the domestic commercial vehicle sector in the second half of FY26, driven by the GST cut on CVs from 28% to 18%, higher replacement demand, and growth in infrastructure, construction, and logistics. "The integration of Iveco Group NV, most likely in FY27 will expose the company to the global CV cycle,” it added.

Tata Motors Commercial Vehicles sold 37,530 units in October, up nearly 10 per cent from a year ago. This is the highest monthly sales since March. Growth came from both domestic sales and exports.

Tata Motors Passenger Vehicles Share Price Today

Tata Motors Passenger Vehicle shares on November 11 ended at Rs 407.60 apiece on the NSE, down 0.69 per cent against its previous close. Since the day it started trading as a separate entity, the passenger vehicle unit’s stock has surged nearly 2 per cent.