TATA Commercial Vehicle Arm Gets Its Own Listing

Following a significant demerger that divided Tata Motors into two independently traded companies—one for passenger vehicles and one for commercial vehicles—the company's commercial vehicle division was formally listed as a separate entity on the BSE and NSE on the 12th of November 2025.

Key Details of Listing

• Listed Name: The company, initially titled TML Commercial Vehicles Ltd, is now trading under the name Tata Motors Commercial Vehicles Ltd (TMCV) with the ticker symbol TMCV (BSE) and TATAMOTORSCV (NSE).​

• Share Allotment: Every Tata Motors shareholder who held shares as of the record date (October 14, 2025) received one share of the new commercial vehicle entity for every Tata Motors share they held, with a total allotment of 3,68,23,31,373 equity shares with a face value of ₹2 each.​

• Trading Category: The stock is listed in the T Group segment and will be subject to trade-for-trade regulations for the first 10 trading sessions, limiting intraday trading to delivery-based transactions only.​

• Valuation Range: The implied value for the newly listed commercial vehicle shares is projected to be in the ₹260–₹270 per share range, based on pre-demerger Tata Motors price trends.​

• Business Scope: Tata Motors Commercial Vehicles Ltd now represents India’s largest commercial vehicle manufacturer, overseeing trucks, buses, small cargo vehicles, and, following the recent acquisition, the integration of Iveco Group NV by FY 2027.

Demerger Rationale Impact

• The company opted to split its commercial and passenger vehicle divisions to unlock value, allow for focused strategies, and ensure capital allocation targeted to growth cycles unique to each segment.​

• Tata Sons Chairman N. Chandrasekaran highlighted that separating the businesses improves clarity, accountability, and growth orientation since the two arms serve distinct customer bases and operate within different market cycles.​

• Shareholders now own two distinct Tata Motors stocks—one for passenger vehicles (including EVs and JLR), and one for commercial vehicles—enabling clearer investor visibility and independent business performance reporting.​

• The CV company is expected to chart its future independently, with investments, product strategy, and quarterly financial results being reported separately from the consumer vehicle business.​

What Happens Next

Now that the listing is complete, investors will see Tata Motors Passenger Vehicles Ltd. and Tata Motors Commercial Vehicles Ltd. in their portfolios, each representing the potential and performance of its own automotive market.​

Following this historic reorganisation, Tata Motors Commercial Vehicles Ltd. begins trading as the leading company in India's commercial vehicle market, and its future course is constantly monitored.