Tata Motors Commercial Vehicles listed on the National Stock Exchange on Wednesday at Rs 335 apiece, a premium of 28% over its pre-open price discovery closing price of Rs 260 apiece.
On the BSE, the stock debuted at Rs 330.25.
The demerger legally took effect on October 1, 2025, splitting Tata Motors into two separately listed entities, Tata Motors Commercial Vehicles Ltd. and Tata Motors Passenger Vehicles.
Tata Motors Commercial Vehicles includes the trucks, buses, logistics and goods transport business, while Tata Motors Passenger Vehicles includes passenger cars, EVs), and Jaguar Land Rover.
The CV company will operate as a pure commercial and industrial mobility player. The PV company sharpens its focus on EVs, passenger cars and JLR's global luxury platform.
Under the approved Composite Scheme of Arrangement, every Tata Motors shareholder receives one equity share (Rs 2 each) of TMLCV for every one equity share (Rs 2 each) held in Tata Motors as of the record date, October 14, 2025.
For the first 10 trading sessions, the newly listed CV stock will trade under the trade-for-trade segment, meaning no intraday trading. Investors can only buy shares if they intend to take delivery — a standard listing requirement.
For shareholders, the move is expected to unlock clearer value. Each business can now attract investors based on its distinct growth thesis: steady industrial growth in CVs versus electric and premium expansion in PVs.
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