Updated: November 11, 2025
Key takeaways
- Listing date: The commercial vehicles (CV) business carved out of Tata Motors will list on Wednesday, November 12, 2025 on both NSE and BSE, completing the two-entity split. [1]
- Symbol & name shown on screen: Multiple exchange updates and reports indicate the scrip will show up as Tata Motors Ltd (the CV entity) with the trading symbol reported as “TMCV” by several outlets, while one BSE-linked notice referenced “TMCVL.” Watch the pre‑open screen on the exchanges for the final live symbol tomorrow. [2]
- Group & trading rules (first 10 sessions): The stock will list in BSE’s ‘T’ Group and stay in trade‑for‑trade for the first 10 trading days (delivery-only; no intraday square‑off). A special pre‑open session will precede listing. [3]
- Allotment ratio & record date:1:1 share allotment for eligible shareholders with record date October 14, 2025; the demerger took effect October 1, 2025. [4]
- Shares outstanding & face value: About 3,68,23,31,373 equity shares of ₹2 face value will be admitted for trading. [5]
What exactly is listing tomorrow?
The CV business, earlier housed within Tata Motors, is debuting as a separately traded company on NSE and BSE on Wednesday, November 12. This is the final step of the restructuring that split the automaker into two listed entities: a passenger vehicles (PV) company (including EV and JLR) and a commercial vehicles company. [6]
Under the approved scheme and subsequent corporate actions, the CV entity has been renamed “Tata Motors Limited,” while the erstwhile parent has changed its name to Tata Motors Passenger Vehicles Limited (TMPV) for the PV+EV+JLR vertical. An NSE listing department circular for debt securities dated November 10 also reflects this naming swap, noting “Tata Motors Limited (Formerly known as TML Commercial Vehicles Limited)” effective Nov 12, corroborating the direction of the name change across the group. [7]
Symbol, group and trading mechanics
- Symbol: Outlets widely cite “TMCV” as the trading symbol for the CV entity; one BSE‑referenced notice mentions “TMCVL.” Because the company name shown on the exchange screens will be “Tata Motors Ltd” (CV), expect the live pre‑open display to be the definitive guide at the opening bell tomorrow. [8]
- Segment: The stock will be in BSE’s ‘T’ Group and trade‑for‑trade for the first 10 sessions — delivery‑only, no intraday netting off. This is standard for re‑listed/debuting scrips to ensure orderly price discovery. [9]
- Pre‑open & listing time: The listing will be preceded by a special pre‑open session (call auction) as laid out in SEBI’s circular for IPOs/re‑listed securities, with normal trading commencing after the pre‑open. Media guidance for this listing indicates trading from 10:00 am after the price discovery window. [10]
What “T Group / trade‑for‑trade” means for you: for the first 10 sessions, any buy must be taken to delivery and any sell must deliver shares — no intraday. [11]
Allotment, record date and issued capital
- Allotment ratio:1 share of the CV company for every 1 share held as of the October 14, 2025 record date. The demerger became effective October 1. [12]
- Issued capital:3,68,23,31,373 shares (face value ₹2 each) will list, as per the exchange notice cited in today’s coverage. [13]
If you held eligible shares on the record date, the new CV shares should reflect automatically in your demat prior to trading start; brokers typically credit/reflect these in the “holdings” section once the depository processes are completed. Media advisories today reiterate that no action is required from shareholders beyond routine checks. [14]
Where does the PV company stand now?
The PV+EV+JLR company has already listed and begun trading as Tata Motors Passenger Vehicles Ltd (TMPV) following a special pre‑open price discovery on October 14 at ₹400 per share. That discovery price helped the market infer an indicative residual value for the CV arm ahead of its separate listing. [15]
Analysts and market commentary today frame tomorrow’s CV listing as the culmination of the demerger, with coverage widely noting the two independent investment theses: steady, India‑led industrial/goods mobility cycles for CVs versus EV acceleration and luxury profitability at JLR on the PV side. [16]
Valuation lens going into Day 1
- Indicative ranges: Pre‑listing fair‑value scenarios in today’s reports and recent notes place CV around the ₹300–₹470 zone (varies by brokerage methodology and macro assumptions). Treat these as scenarios, not official price bands; the special pre‑open will determine the discovered price. [17]
- Drivers to watch: Freight demand, capex/infrastructure momentum, replacement cycles, and the roadmap for technology partnerships/integration (post the group’s announced Iveco transaction in July) are among the near‑to‑medium term catalysts cited for the CV entity. [18]
Leadership & governance snapshot
As the two companies operate independently, leadership has been aligned to the focused portfolios, with Girish Wagh helming the CV business and Shailesh Chandra leading the PV entity, as reported during the transition. [19]
Day‑1 checklist for investors
- Confirm the live symbol during pre‑open (reports today cite TMCV; one notice mentioned TMCVL). Use your broker/terminal’s pre‑open page for the definitive code at 9:45–10:00 am. [20]
- Remember trade‑for‑trade: Delivery only for the first 10 sessions; no intraday square‑offs. [21]
- Watch discovered price & volume: The call auction sets the opening reference; volatility can be high in early ticks. [22]
- Check demat holdings: Your CV shares (1:1) should appear automatically if you held on Oct 14. [23]
Quick FAQs
Q: What is the final trading symbol?
A: Media and market updates today point to “TMCV”; one BSE‑linked mention shows “TMCVL.” Because the exchange screen is authoritative, verify the symbol during pre‑open. The company name you’ll see on screens is “Tata Motors Ltd” (CV). [24]
Q: What happened to the old Tata Motors listing?
A: The PV+EV+JLR company now trades as Tata Motors Passenger Vehicles Ltd (TMPV) and had its price discovered at ₹400 on Oct 14. [25]
Q: What are ‘T Group’ / trade‑for‑trade rules?
A: For the first 10 sessions, trades must be delivery‑based (no intraday). This is standard for new/re‑listed scrips and is flagged by the exchanges in their notices. [26]
Q: When does trading actually start?
A: After the special pre‑open call auction, media guidance for this listing indicates 10:00 am start. [27]
Q: Do I need to do anything to receive shares?
A: No. Eligible shareholders (record date Oct 14) receive 1:1 shares automatically in demat. Just check your holdings tab tomorrow morning. [28]
Context: Why the split?
Tata Motors’ board and shareholders pushed the demerger to unlock focused value, sharpen capital allocation and let investors choose between India‑heavy CV cycles and global PV/EV+JLR exposure. Exchange filings and circulars across October–November document the name changes and the Nov 12 effective date for the CV entity’s listings across segments. [29]
Sources (Nov 11, 2025 coverage)
- Mint: Listing date, ‘T’ Group, 3.68 bn shares, ₹2 FV, BSE‑referenced TMCVL ticker, 1:1 ratio & record date. [30]
- India Today: Nov 12 listing, ticker TMCV, 368 crore shares, trade‑for‑trade, 1:1 & record date reminder. [31]
- Upstox: BSE notice summary; trade‑for‑trade (10 days); special pre‑open; name‑change chronology and 1:1 details. [32]
- Business Standard: ‘T’ Group confirmation; to be traded as Tata Motors Ltd; share count/ratio; PV vs CV outlook. [33]
- Moneycontrol: Symbol “TMCV” cited; PV discovery at ₹400 on Oct 14 noted in recent reporting. [34]
- SEBI circular (framework): Special pre‑open/call auction mechanism for IPOs and re‑listed scrips. [35]
- NSE listing‑dept circular (Debt): Confirms name swap (“Formerly TML Commercial Vehicles Ltd”) effective Nov 12 for instruments, reflecting the group‑wide change. [36]
Editorial note: Because exchanges can finalize symbols and abbreviations close to go‑live, treat the live pre‑open screen tomorrow as the single source of truth for the exact trading symbol. The listing date, delivery‑only window, 1:1 allotment, record date, and share count are formally reflected in exchange‑linked notices and today’s newsroom summaries. [37]
This report is intended for general information and news purposes and is not investment advice.
References
1. www.livemint.com, 2. www.moneycontrol.com, 3. www.livemint.com, 4. www.livemint.com, 5. www.livemint.com, 6. www.livemint.com, 7. www.livemint.com, 8. www.moneycontrol.com, 9. www.livemint.com, 10. www.sebi.gov.in, 11. upstox.com, 12. www.livemint.com, 13. www.livemint.com, 14. www.indiatoday.in, 15. www.moneycontrol.com, 16. www.business-standard.com, 17. m.economictimes.com, 18. www.reuters.com, 19. timesofindia.indiatimes.com, 20. www.moneycontrol.com, 21. upstox.com, 22. www.sebi.gov.in, 23. www.livemint.com, 24. www.moneycontrol.com, 25. www.moneycontrol.com, 26. upstox.com, 27. www.etnownews.com, 28. www.livemint.com, 29. www.livemint.com, 30. www.livemint.com, 31. www.indiatoday.in, 32. upstox.com, 33. www.business-standard.com, 34. www.moneycontrol.com, 35. www.sebi.gov.in, 36. nsearchives.nseindia.com, 37. www.livemint.com
