Tata Motors’ commercial vehicle (CV) business debuted on the BSE on Wednesday, completing the automaker’s long-planned demerger into separate listed entities for its passenger and CV operations.
The listing sets the stage for the CV division’s next growth phase — focused on electrification, hydrogen trucks, and new-energy buses — while maintaining a debt-free balance sheet, said N Chandrasekaran, chairman of Tata Sons and Tata Motors, at the listing ceremony.
“Tata Motors’ commercial vehicles have been the backbone of the Indian economy.
"They have a fantastic business but they have got more work to do as now we are working on electrification, hydrogen trucks, new energy buses, and many more new technologies,” he said.
“We made the company debt free, which has enabled them to be very bold.”
“Tata Motors has been an iconic company for over eight decades, and making structural changes to such an organisation is never easy.
"But this separation was necessary to create two financially strong, independent companies with clear growth paths.”
Both divisions are self-sustaining after years of internal restructuring.
“They have distinct strategies, customer segments and business models.
"They are ready to pursue their respective ambitions, with the Tata group continuing to support them,” he said.Girish Wagh, managing director and chief executive officer of Tata Motors, said the listing marks a new era of focused and accountable growth.
“As Tata Motors Commercial Vehicles becomes a separate listed entity, we are reinforcing our commitment to stronger governance, deeper accountability and value creation,” he said.
The new company will have around 7 million shareholders, reflecting Tata Motors’ wide retail base.
It underscores the need for responsible management from the start, Wagh said.
The company’s priorities include strengthening customer value and product innovation in India, and expanding in Africa, the Middle East and Asia. Parts, services and digital mobility will drive recurring revenue.
Wagh also said the proposed acquisition of Italian CV maker Iveco, pending regulatory nods, will boost Tata Motors’ global standing by adding scale and advanced technologies.
Shares of Tata Motors ended at Rs 328 apiece, putting the company’s valuation at Rs 1.2 trillion.
In October, Tata Motors Passenger Vehicle, which includes the electric vehicle and Jaguar Land Rover businesses, had listed separately at a valuation of Rs 1.4 trillion.
