1:1 Split: Tata Motors Demerger! CV Listing Date Set On Nov-12; Know Shares Allotment, Swap Ratio, Scrip Name

Tata Motors Ltd. has finally announced the key date of listing of its commercial vehicles unit. The subsidiary, which was initially titled TML Commercial Vehicles, has been renamed to Tata Motors. And the new equity shares will be listed as Tata Motors on BSE and NSE on November 12. The share allotment has already been announced. Ahead of CV's listing, Tata Motors Passenger Vehicles is trading in red.

Tata Motors Commercial Vehicles Listing Date:

As per the regulatory filing, Tata Motors has received approval from BSE and NSE to list and trade its commercial vehicle unit shares with effect from November 12, 2025.

Hence, the listing date is fixed on November 12, 2025.

Last month, Tata Motors received approval to change the TML Commercial Vehicles name to Tata Motors.

Tata Motors Commercial Vehicles Scrip Name:

The CV business will list on BSE and NSE and trade under the symbol of TATAMOTORSCV.

Tata Motors Commercial Vehicles Shares Allotment:

The commercial vehicle unit of Tata Motors has already announced allotment of 3,68,23,31,373 equity shares fully paid-up at a face value of Rs 2 each. Also, TML earlier announced the cancellation and reduction of the entire pre-scheme paid-up share capital of TMLCV which comprised of 5 lakh shares at a face value of Rs 2 each.

Tata Motors Commercial Vehicles Shares Swap Ratio:

The swap ratio is of 1:1. This means that for every one Tata Motors share, shareholders will 1 share of Commercial Vehicle unit. However, it needs to be noted that Tata Motors has already identified the eligible shareholders on October 14 which was the record date for the demerger.

Simply put, Tata Motors shares was split into Passenger Vehicles and Commercial Vehicles unit. While the PV unit continued to trade on BSE and NSE, the shares of CV were yet to be listed. This is why, Tata Motors shares was split and tanked sharply to adjust to the demerger.

Investors currently have unrecognized P&L in their portfolio. Before November 12, the sellable quantity of CV unit stood zero. Now that the shares will list, the eligible investors will finally see the adjustment in their portfolio with CV shares allotted.

But if you bought any shares of Tata Motors Passenger Vehicles after October 14, you will not be eligible for the CV shares.

After the listing, you will have one share of PV and one share of CV appear in your portfolio.

Tata Motors Commercial Vehicles Listing Prediction:

As per Samco note, residual value of CV unit could be around Rs 260 to Rs 270 based on the pre-demerger closing price of Rs 660.75. Also, the PV unit is already trading around Rs 400 per share.

Tata Motors Structure Post Demerger:

After the allotment of CV unit shares, the demerger will end. Investors can trade in both the separate entities. Post demerger, the new Tata Motors structure will look like:

Tata Motors Commercial Vehicle (TMCV): This will include entire commercial vehicles business such as trucks, buses, and heavy vehicles.

Tata Motors Passenger Vehicles (TMPV): This entity will solely operate the passenger vehicles, EVs, and the Jaguar Land Rover (JLR) business.

Tata Motors Passenger Vehicles Share Price:

At the time of writing, TMPV share price traded at Rs 404.75 apiece, down by 1.5% on BSE with market cap of Rs 1,49,042.36 crore. Since the demerger record date, TMPV shares have touched 52-week high and low of Rs 513.68 apiece and Rs 335.30 apiece before correcting.

TMPV Vs TMCV Target Price:

Nomura has set Rs 367 target on TMPV, while its target price is set at Rs 365 on TMCV.

Nuvama has currently set Rs 410 target price for the PV business and Rs 280 per share for CV unit.

SBI Securities also fixed a target price of Rs 285-384 on TMPV, while the target for TML CV is estimated at Rs 320-470.

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