Shares of TMCV, Tata Motors’ demerged commercial vehicle arm, made a strong debut on the stock exchanges on Wednesday, listing at Rs 340, which is 30% above its implied pre-listing value of around Rs 260.
The listing marks the completion of Tata Motors’ long-awaited demerger, separating its passenger and commercial vehicle businesses into two independently listed entities. Strong investor appetite and optimism around the company’s standalone growth prospects drove the upbeat market debut.
(More details awaited)