Tata Motors is set to finalize its long-anticipated restructuring this week, as its commercial vehicles (CV) business is scheduled to debut on the stock exchanges on November 12, 2025. This restructuring will see the auto giant splitting into two distinct listed companies—one focusing on passenger vehicles and the other on commercial vehicles, marking a significant change in Tata Motors’ corporate framework.
The newly demerged entity, Tata Motors Ltd (formerly known as TML Commercial Vehicles Ltd), will officially list on both the BSE and NSE on Wednesday. This company will encompass all commercial vehicle operations of Tata Motors, including trucks, buses, and related businesses, and will trade under the ticker symbol TMCV. It is reported that 368 crore shares, each with a face value of Rs 2, will be listed.
Initially, for the first ten trading sessions, the new stock will be placed in the trade-for-trade segment as per standard listing regulations. This implies that shares can only be bought if investors intend to take delivery, as intraday trading will not be permitted initially.
The demerger, which became effective on October 1 after approvals from both exchanges and the National Company Law Tribunal (NCLT), granted shareholders one share in the new CV entity for every Tata Motors share held as of the record date on October 14, 2025.
In the previous month, Tata Motors completed the initial phase of the split, with Tata Motors Passenger Vehicles Ltd (TMPVL), encompassing passenger cars, electric vehicles (EVs), and Jaguar Land Rover (JLR) businesses, commencing independent trading on October 14. The shares opened at Rs 400 each, indicating an implied value of Rs 260–270 per share for the upcoming commercial vehicles segment based on Tata Motors’ pre-demerger closing price of Rs 660.75.
As of 10 am, TMPVL shares were trading at Rs 404.25 per share on the BSE. Since its separate listing, TMPVL shares have experienced a 4% increase, closing at Rs 410.7 on Monday. The passenger vehicles business is scheduled to announce its first quarterly results post-demerger on November 14, just two days after the CV listing.
The final listing signifies the completion of Tata Motors’ restructuring process. The new Tata Motors (commercial vehicles) will concentrate solely on its truck, bus, and goods transport activities, while Tata Motors Passenger Vehicles will focus on cars, EVs, and JLR’s luxury business on a global scale.
This separation provides investors with enhanced clarity and focus, enabling each business to attract investors aligned with its specific growth prospects—the commercial segment for consistent industrial growth and the passenger segment for exposure to electric and premium vehicles.
Shareholders are not required to take any action, as the new shares will automatically appear in demat accounts once trading commences on November 12. The fair value of the commercial vehicle entity will be determined by the market based on demand and performance expectations.
The upcoming trading sessions will reveal how investors assess the two businesses individually. Tata Motors’ decade-long restructuring journey is nearing its conclusion, ushering in a new chapter as two distinct auto companies with focused operations.