The much anticipated debut is finally done- Tata Motors Commercial Vehicle, the demerged commercial vehicle stock from the Tata Group, listed at Rs 335 per share on NSE. On BSE, the stock was listed at Rs 330/share and surged up to Rs 340 levels in early trade.
Trading began at 10 AM on both the BSE and the National Stock Exchange (NSE), marking a new chapter for India’s largest commercial vehicle maker.
The listing follows Tata Motors’ corporate restructuring, which split its passenger and commercial vehicle divisions into two separate listed entities. The demerger was executed on a 1:1 share ratio, with October 14, 2025, as the record date. Eligible shareholders received their Tata Motors Commercial Vehicle (TMCV) shares on October 16.
TMCV: New entity, familiar name
Under the new structure, the passenger vehicle business continues as Tata Motors Passenger Vehicles (TMPV), while the commercial vehicle arm now operates independently as Tata Motors, formerly known as TML Commercial Vehicles.
A BSE notice issued earlier this week confirmed, “Effective from Wednesday, November 12, 2025, the equity shares of Tata Motors (formerly known as TML Commercial Vehicles) shall be listed and admitted to dealings on the exchange in the list of T Group of Securities.”
The company’s certificate of incorporation reflected the official name change. “I hereby certify that the name of the company has been changed from TML COMMERCIAL VEHICLES to TATA MOTORS with effect from the date of this certificate and that the company is a Company limited by shares,” read the statement signed by Dhirendra Singh, Registrar of Companies, Central Processing Centre.
Tata Motors Commercial Vehicle: Business performance snapshot
Financially, Tata Motors CV reported FY25 revenue of Rs 75,055 crore and EBITDA of Rs 8,856 crore, reflecting an 11.8% margin. In October 2025, the division’s international business sold 2,422 units, a 56% jump year-on-year, while domestic CV sales rose 7% to 35,108 units.
A milestone in Tata’s transformation
The demerger, effective October 1, 2025, is part of Tata Motors’ broader restructuring plan aimed at unlocking value and improving focus within each business vertical. The passenger vehicles arm began trading as a separate listed entity from October 14.
The 1:1 share entitlement ensures that investors’ overall ownership remains the same, only redistributed between the two separately listed entities.
Shares of the newly created commercial vehicle company were credited to shareholders’ demat accounts on October 16, though these remained frozen until the listing received final approval.
There is no additional cost or change in ownership arising from the demerger. Shareholders did not need to pay any amount or surrender existing sharestheir investments were simply split between the two independent listed companies.