Tata Motors Commercial Vehicles (TMCV) shares are set to list on Indian stock exchanges on November 12, as per a BSE notice, under the ‘T’ Group of Securities. This follows the completion of Tata Motors’ demerger, which created two independent listed entities.
The demerger took effect on October 1, and under the 1:1 share entitlement ratio, investors received one share in the Commercial Vehicle business for every Tata Motors share held as of the record date, October 14. Over 368 crore equity shares of ₹2 each will be admitted for trading under the ticker TMCVL. The stock will remain in the trade-for-trade segment for the first 10 sessions and will list on both BSE and NSE.
Post-demerger, Tata Motors will focus on commercial vehicles, while the already listed Tata Motors Passenger Vehicles (TMPV) will cover passenger vehicles, EVs, and Jaguar Land Rover. TMPV shares started trading on October 14 at around ₹400, while the implied value of the commercial vehicle arm is ₹260–270. Analysts project TMCV to list between ₹320–470, supported by expected domestic CV recovery, GST rate cuts, replacement demand, and global CV cycle exposure from the Iveco integration.
