Tata Motors Announces Listing Date for Commercial Vehicle Shares

Tata Motors has confirmed that its demerged entity focusing on commercial vehicles, Tata Motors Commercial Vehicles (TMCV), will officially list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on November 12, 2025. This announcement follows the completion of a significant restructuring process intended to create two independent entities: one for commercial vehicles and another for passenger vehicles and electric vehicles.

The demerger took effect on October 1, 2025, enabling existing shareholders of Tata Motors to receive one share of TMCV for each share they held as of the record date, which was October 14. This share entitlement ratio has generated considerable interest among investors, with the shares of TMCV expected to trade under the ticker symbol TMCVL.

According to the official notice issued by the BSE, approximately 368 crore equity shares with a face value of ₹2 each will be available for trading. For the first ten trading sessions, TMCV shares will remain in the trade-for-trade segment, which is a mechanism that limits volatility by requiring trades to be settled before new ones can be initiated.

The new commercial vehicle entity will be distinct from Tata Motors Passenger Vehicles, which has already begun trading as a separate company since October 14, 2025. The passenger vehicle arm encompasses a range of offerings, including electric vehicles and luxury brands like Jaguar Land Rover.

In terms of valuation, prior to the demerger, Tata Motors had a paid-up equity capital of ₹10 lakh, which was subsequently adjusted to ₹7,36,46,62,746, consisting of around 3.68 billion equity shares fully paid up. Following the demerger, the share price of Tata Motors Passenger Vehicles was initially discovered at around ₹400, while analysts estimate the residual value of TMCV shares to be in the range of ₹260 to ₹270, based on the pre-demerger closing price of ₹660.75.

Market analysts have expressed optimism regarding TMCV's initial trading performance. Predictions suggest that the shares could debut between ₹320 and ₹470, buoyed by positive trends in the domestic commercial vehicle market, which is expected to recover in the second half of the fiscal year 2026. Factors contributing to this recovery include recent reductions in Goods and Services Tax (GST) rates on commercial vehicles and increased demand from the infrastructure and logistics sectors.

As the market awaits the listing, shares of Tata Motors Passenger Vehicles ended the trading day on November 10, 2025, at ₹410.60, reflecting a modest increase of 1.22%. Investors are also keenly anticipating the upcoming quarterly results scheduled for November 14, which will be the first financial report from the passenger vehicle segment following the demerger.

This strategic restructuring aims to provide clearer operational focus and unlock value for shareholders, reflecting Tata Motors' commitment to enhancing its competitive positioning within the automotive sector.