Tata Motors’ commercial vehicles arm to list on November 12

Tata Motors Ltd

’s commercial vehicles (CV) business will be listed on the stock exchanges on Tuesday, November 12, following the completion of the company’s demerger into two separate entities — one for commercial vehicles and another for passenger vehicles, including electric vehicles and Jaguar Land Rover (JLR).

The new entity, Tata Motors Commercial Vehicles Ltd (TMLCV), will debut on both the BSE and NSE. The company informed exchanges that trading in the CV shares will commence from November 12 under the symbol “TATAMOTORSCV”.

Under the approved demerger plan, shareholders of Tata Motors have received one share of TMLCV for every one share held in the parent company as of the record date, October 14, 2025. The scheme became effective on October 1 after receiving approvals from the National Company Law Tribunal (NCLT), stock exchanges, and shareholders.

The demerger aims to provide sharper strategic focus and unlock value by allowing each business — passenger and commercial — to pursue independent growth plans. While the passenger vehicles and JLR operations will remain under Tata Motors Passenger Vehicles Ltd (TMPV), the new company will handle the entire commercial vehicles portfolio, including trucks, buses, and small CVs.

Analysts expect the listing to provide clearer valuation for both businesses. Brokerage estimates suggest the CV arm could list in the range of ₹260-₹300 per share, based on implied valuations derived from Tata Motors’ current market price.

Post-listing, the two entities will trade separately, and index providers may rebalance holdings to reflect the new structure. Market participants also expect short-term volatility as investors adjust portfolios and price discovery takes place for the newly listed CV company.

The listing marks the culmination of Tata Motors’ long-planned restructuring to simplify its operations and unlock shareholder value. The company had first announced its intention to separate the CV and PV businesses in March 2024, citing the need for operational agility and independent capital allocation.