Tata Motors Commercial Vehicles shares are set to list in the Indian stock market today. The company has set Tata Motors Commercial Vehicles arm listing date as 12 November 2025. The equity shares of newly demerged commercial vehicle (CV) arm of Tata Motors will make their debut on both the stock exchanges, BSE and NSE.
The listing of equity shares of Tata Motors Commercial Vehicle business follows the Tata Motors demerger which took effect from October 1. Under the plan, shareholders received one share of Tata Motors Commercial Vehicles Ltd for every Tata Motors share held as of the record date. Tata Motors demerger record date was October 14, 2025.
Following the restructuring, the Commercial Vehicles (CV) business has been , while the Passenger Vehicles (PV), Electric Vehicles (EVs), and Jaguar Land Rover (JLR) operations are now housed under Tata Motors Passenger Vehicles Ltd (TMPV) — which is already listed separately.
According to a BSE notice, over 368 crore equity shares with a face value of ₹2 each will be admitted to trading under the ticker symbol ‘TMCVL’ in the ‘T’ Group of Securities. The stock will remain in the trade-for-trade segment for the first 10 sessions to ensure a smooth price discovery process.
(TMPV) shares began trading as a standalone entity on October 14, valued at around ₹400 per share post record-date adjustment. Based on the pre-demerger closing price of ₹660.75, the implied residual value of the Tata Motors commercial vehicle arm was estimated between ₹260 and ₹270 per share.
Tata Motors CV Listing Price Expectations
Analysts are optimistic about the , expecting a strong debut between ₹320 and ₹470 per share.
“TMLCV is likely to list above its implied valuation of ₹260. The stock could see volatility in prices as retail and institutional participants will recalibrate portfolios post demerger,” said Abhinav Tiwari, Research Analyst at Bonanza.
Given Tata Motors’ market leadership in the commercial vehicle segment, strong cash generation, and its acquisition of Italy’s Iveco, Tiwari believes the CV business is well-positioned to strengthen its global footprint.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, also expects a robust listing for TML Commercial Vehicles Ltd (TMLCV) in the ₹300 – ₹350 range, in line with the business’s standalone value and growth prospects.
“This anticipated range reflects the implied value of the commercial vehicle business post-demerger, along with a potential premium for its standalone visibility. However, we believe that could command a better valuation once the new entity provides greater clarity on its independent financials, growth strategy, and long-term performance outlook,” said Tapse.
When combining the valuations of both entities — Tata Motors Passenger Vehicles ( ₹399 per share) and Tata Motors Commercial Vehicles ( ₹300 – ₹350 per share) — the total implied value comes to approximately ₹699 – ₹749 per share.
“This combined valuation suggests that shareholders who held Tata Motors shares on or before the record date stand to benefit from the demerger, as the overall worth of their holdings remains strong, potentially even unlocking additional value as each business gains clearer strategic and financial visibility post-split,” Tapse added.
Market experts view the Tata Motors demerger as a strategic step toward unlocking shareholder value and enabling sharper business focus.
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