Tata Motors Commercial Vehicles shares will list on the Indian stock exchanges on November 12, according to a notice on the BSE. The new entity will trade in the ‘T’ Group of Securities.
The listing of equity shares of Tata Motors Commercial Vehicle business comes following the Tata Motors demerger was completed and the company was split into two independent listed entities.
Tata Motors demerger took effect from October 1. As per the share entitlement ratio of 1:1, investors received one share in the Commercial Vehicle business for every Tata Motors share held as of the record date. Tata Motors demerger record date was October 14.
As per the BSE notice, over 368 crore equity shares of face value ₹2 each will be admitted to trading under the ticker TMCVL. The stock will remain in the trade-for-trade segment for the first 10 sessions.
Tata Motors Commercial Vehicles shares will list on both the stock exchanges, BSE and NSE.
Tata Motors Commercial Vehicles has been renamed Tata Motors. It will focus on commercial vehicles, while the newly formed and already listed Tata Motors Passenger Vehicles will house the passenger vehicles, electric vehicles (EVs), and Jaguar Land Rover (JLR) business.
“Prior to the Scheme, the paid-up Equity Capital of Tata Motors Limited was ₹10,00,000/- consisting of 5,00,000 shares of Face Value of Rs. 2/- each which has been cancelled. The issued, subscribed and paid-up equity capital of Tata Motors Limited post Arrangement is Rs. 7,36,46,62,746/- consisting of 3,68,23,31,373 equity shares of face Value of Rs. 2/- each fully paid,” the BSE notice said.
Tata Motors Passenger Vehicles Ltd has already started trading as a separate entity from October 14. After the record date adjustment, TMPV was valued around ₹400 per share, while the implied residual value of the yet-to-be-listed commercial vehicles arm was at ₹260-270 per share, based on the pre-demerger closing price of ₹660.75.
Tata Motors CV Share Price
Analysts remain positive on Tata Motors Commercial Vehicles arm and expect the stock to list in the range of ₹320 to ₹470.
SBI Securities expects TMCV shares to trade between ₹320 – ₹470 post listing. “The domestic CV industry is likely to start recovering in 2HFY26 on back of tailwinds such as GST rate reduction on CVs from 28% to 18%, replacement demand and pickup in the infrastructure, construction and logistics sectors. The integration of Iveco Group NV, most likely in FY27 will expose the company to the global CV cycle,” it said.
On Monday, Tata Motors Passenger Vehicle shares ended 1.22% higher at ₹410.60 apiece on the BSE.
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