Tata Motors Completes Demerger: Shares of Commercial Vehicles Credited
Tata Motors has officially completed its much-awaited demerger, creating two independent listed entities — Tata Motors Passenger Vehicles Ltd (TMPV) and Tata Motors Commercial Vehicles Ltd (TMLCV).
As part of the restructuring, TMLCV shares have been credited to eligible shareholders’ demat accounts. This marks a key milestone for Tata Motors investors, setting the stage for separate trading and independent valuations of both entities.
The Tata Motors Commercial Vehicles share carries a face value of ₹2 and is expected to list on NSE and BSE in the coming weeks. The official ISIN for TMLCV is INE1TAE01010.
Tata Motors Demerger Ratio and Share Allotment Details
As per the Tata Motors demerger ratio of 1:1, every shareholder of Tata Motors received one TMLCV share for every Tata Motors share held.
Depositories confirmed that these shares were credited on October 16, 2025, although they currently appear as inactive holdings until official listing begins.
The record date for the demerger was October 14, 2025, and during the special pre-open session, Tata Motors Passenger Vehicle (PV) share price was discovered at approximately ₹400 per share.
Tata Motors CV Share Valuation and Expected Listing Price
Market experts believe that the Tata Motors demerger will unlock significant shareholder value. The commercial vehicle (CV) business, now separated from the PV division, is expected to attract strong institutional and retail investor interest.
According to Avinash Gorakshakar, Market Expert,
“TMLCV’s standalone structure will help investors value the CV business purely on its financial performance and sector prospects. The company could command higher valuations once business momentum picks up.”
Seema Srivastava, Senior Research Analyst at SMC Global Securities, estimated that the indicative valuation of TMLCV shares is around ₹260–₹270 per share, derived from the residual price of Tata Motors post-demerger.
However, she expects listing valuations to be higher — ₹300–₹470 per share — backed by strong growth potential in India’s commercial vehicle segment.
Analysts’ View: What to Expect Post Listing
Prashanth Tapse, Sr. VP Research at Mehta Equities, believes that Tata Motors CV shares could list near ₹400, benchmarking against Ashok Leyland and other CV peers.
He noted:
“The CV segment remains cyclical but stable, offering strong cash flows and long-term upside tied to India’s infrastructure and logistics growth.”
Similarly, SBI Securities forecasted that the Tata Motors PV share price will likely trade between ₹320 – ₹470 post listing, reflecting balanced market sentiment.
Tata Motors CV Industry Outlook and Future Growth Drivers
The Indian commercial vehicle industry is expected to see a strong recovery in FY26–FY27, driven by:
- GST rate reduction on CVs (from 28% to 18%)
- Replacement demand and fleet modernization
- Government spending on infrastructure and logistics
- Integration with Iveco Group NV by FY27, giving Tata Motors global exposure
These factors position Tata Motors Commercial Vehicles Ltd (TMLCV) as a pure-play CV giant ready to compete with Ashok Leyland, Eicher Motors, and Mahindra Truck & Bus Division.
Tata Motors Share Price Today and Market Sentiment
As of 2:20 PM on October 20, 2025, Tata Motors share price traded 0.73% higher at ₹399.45 on the BSE, reflecting positive investor sentiment post demerger.
Analysts expect the TMLCV listing to act as the next major trigger for Tata Motors investors, unlocking fresh valuation potential.
Conclusion: Tata Motors Demerger Unlocks Value for Shareholders
The Tata Motors demerger has effectively unlocked dual investment opportunities — one in passenger vehicles (TMPV) and the other in commercial vehicles (TMLCV).
With TMLCV shares credited to demat accounts and listing expected soon, investors should monitor both entities’ performance to assess long-term value creation.
Key Takeaway: Analysts expect the Tata Motors CV share listing price to range between ₹300 – ₹470, depending on market momentum and sector growth trends.
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