Tata Motors will list its commercial vehicle division on the stock market on November 12, 2025, completing its long-awaited restructuring. The move separates the company into two independent listed entities, Tata Motors Passenger Vehicles Ltd (TMPV), which includes its cars, electric vehicles, and Jaguar Land Rover business, and Tata Motors Commercial Vehicles Ltd (TMCV), which will handle trucks, buses, and light commercial vehicles.
The newly listed TMCV shares will trade on both the NSE and BSE under the symbol TMCV, with around 368 crore shares (face value ₹2 each) being admitted for trading. For the first ten trading sessions, the shares will be part of a trade-for-trade segment, meaning investors will have to take delivery of shares and can’t buy and sell them on the same day.
Shareholders of Tata Motors as of October 14, 2025, will automatically receive one TMCV share for every Tata Motors share they held. The demerger had received final approval from the National Company Law Tribunal (NCLT) earlier this year.
Tata Motors’ passenger vehicle arm was listed in October and opened around ₹400 per share. Analysts expect the new commercial vehicle stock to debut between ₹260 and ₹270 per share, based on Tata Motors’ pre-demerger value.
With this demerger, Tata Motors aims to give each business sharper focus and independent growth strategies, one leading India’s electric mobility and passenger car innovation, and the other strengthening its leadership in trucks and buses. The separation also helps investors value each segment more clearly, marking a major milestone in the automaker’s transformation journey.
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