On November 12, 2025, Tata Motors made a significant move by listing its newly demerged commercial vehicle (CV) division on the Indian stock exchanges, including both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This transition follows the company’s demerger that officially commenced on October 1, 2025. Investors started trading the shares at ₹335 on the NSE, benefiting from an impressive premium of 28.48% compared to the implied pre-demerger value of ₹260.75 per share. Meanwhile, on the BSE, the listing price was ₹330.25, reflecting a premium of 26.09% relative to an earlier value of ₹261.90 per share. The trading of Tata Motors Commercial Vehicle shares is facilitated under the ticker symbol ‘TMCVL’, with approximately 368 crore equity shares having a face value of ₹2 each. For the first ten trading sessions, these shares will operate within the trade-for-trade segment, a strategy aimed at ensuring stable price discovery as the market adjusts to the new listing. The successful listing follows the establishment of Tata Motors Passenger Vehicles Ltd (TMPV), which began operating as a separate entity on October 14, 2025, and was initially valued around ₹400 per share after the record date. Pre-demerger analyses indicated that the residual implied value of the Tata Motors commercial vehicle segment was estimated to be between ₹260 and ₹270 per share based on the last closing price before the split.