Mumbai, November 12, 2025 — Tata Motors Commercial Vehicles Ltd (TMCVL), the newly demerged commercial vehicle arm of Tata Motors, made its stock market debut on Wednesday, listing at a strong premium before trading steady in early session.
Listing performance
On the NSE, Tata Motors Ltd shares listed at Rs 335 per share, a 28.48% premium to their implied pre-listing value of Rs 260.75.
On the BSE, the stock debuted at Rs 330.25, marking a 26.09% premium to the estimated value of Rs 261.90 per share.
A total of 368 crore equity shares, each with a face value of Rs 2, were admitted for trading under the ticker TMCVL, categorized in the ‘T’ Group of Securities. As per exchange guidelines, the stock will remain in the trade-for-trade segment for the first 10 sessions to facilitate smooth price discovery.
As of 10:52 AM, the stock was trading flat at its listing price, reflecting cautious investor sentiment following the strong debut.
Demerger and valuation details
The Tata Motors demerger took effect from October 1, 2025, with the record date fixed on October 14, 2025. The separation created two standalone entities — Tata Motors Passenger Vehicles Ltd (TMPV) and Tata Motors Commercial Vehicles Ltd (TMCVL) — allowing both divisions to pursue independent growth strategies.
Tata Motors Passenger Vehicles shares began trading as a separate entity on October 14, valued at around Rs 400 per share post adjustment. Based on Tata Motors’ pre-demerger closing price of Rs 660.75, analysts had pegged the implied residual value of the CV arm between Rs 260 and Rs 270 per share — closely aligning with today’s listing range.
Market outlook
The Tata Motors CV listing marks a key milestone in the company’s restructuring journey, aimed at unlocking shareholder value and enhancing operational focus. Market participants expect near-term volatility as investors assess the valuation and growth outlook of both entities separately.
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