Tata Motors Demerger: When will you get CV business shares? Check out implied value

Tata Motors demerger: The long-awaited Tata Motors demerger has finally taken effect, separating its passenger vehicle (PV) and commercial vehicle (CV) businesses. Now, all eyes are on the next big event — the listing of the newly created Tata Motors Commercial Vehicles Ltd (TMLCV).

October 14 was the record date for the demerger. Shareholders who held Tata Motors stock before that date will receive one share of TMLCV for every Tata Motors share held.

Post-demerger, TMPV will oversee the company’s passenger vehicles, electric cars, and Jaguar Land Rover (JLR) operations, while TMLCV will house the truck and bus business.

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When will you get CV business shares?

Tata Motors said the shares will be credited within 30–45 days, pending regulatory approvals. Following allotment, both companies will list separately on NSE and BSE, likely by late November or early December 2025.

The company further stated, “The said equity shares to be allotted by TMLCV are proposed to be listed with BSE Limited and the National Stock Exchange of India Limited, subject to necessary regulatory approvals.”

The exchanges will issue final circulars confirming the separate stock codes and trading schedules before the official debut. Until then, investors will hold the entitlement shares in their demat accounts, though the TMLCV stock will remain inactive until listing.

The exact listing date for Tata Motors Commercial Vehicles Ltd will be announced once the share allotment process is completed, the company added.

Implied value of TMLCV

The implied value of Rs 260.75 per share for TMLCV is based on Tata Motors’ pre-demerger closing price of Rs 660.75 and the Rs 400 opening price of the renamed Tata Motors Passenger Vehicles Ltd (TMPV).

Shareholders can expect credit of TMLCV shares within 30–45 days and listing by end-November or early December. Until then, the Rs 260-per-share value remains notional.