Tata Motors has officially demerged into two separate listed entities effective October 1, 2025: Tata Motors Passenger Vehicles Limited (TMPV) (incorporating PV, EV, and JLR) and TML Commercial Vehicles Limited (TMLCV) (commercial vehicles). Shareholders received 1 share of TMLCV for every 1 share of Tata Motors held, with a record date of October 14, 2025. 

Key Details of the Tata Motors Demerger:

• Structure: Tata Motors (the original entity) was renamed Tata Motors Passenger Vehicles Limited (TMPV). A new entity, TML Commercial Vehicles Limited (TMLCV), was created for the commercial vehicle business.
• Shareholder Entitlement: Shareholders received 1 share of TMLCV for every 1 share of Tata Motors (1:1 ratio).
• Total Investment Value: The demerger is a restructuring, not a value-reducing event. The total investment value remains the same, divided between the two new entities.
• Cost of Acquisition (CoA): For tax and portfolio purposes, the cost is split, with approximately 68.85% assigned to Tata Motors (PV+JLR) and 31.15% to TMLCV, based on official allocations.
• Trading: Both entities are listed on the NSE and BSE.
• Timeline: The scheme became effective October 1, 2025, with the record date for entitlement set for October 14, 2025.
• Strategic Intent: The split allows focused growth, with PV/EV focusing on passenger experience and JLR, while CV focuses on the commercial sector.