Tata Motors demerger: The demerged arm of Tata Motors, Tata Motors Commercial Vehicles (TMCV), made its stock market debut today.
Following the demerger, TMCV shares have begun trading under the name Tata Motors. At the same time, the passenger vehicles division continues to trade separately as Tata Motors Passenger Vehicles, effective from the record date of the merger.
TMCV listing
On the NSE, TMCV shares opened at ₹335 apiece, marking a 28.48% premium over their implied price of ₹260.75 per share. On the BSE, the stock debuted at ₹330.25 per share, up 26.09% from its implied value of ₹261.90 per share.
Soon after listing, TMCV share price declined and was trading at a 3% discount to its listing price at ₹324 on the NSE. On BSE, it was down by 2% at ₹322.60.
More to come…