Tata Motors to demerge CV and PV business as seperate listed companies

By: PTI
Updated on: 04 Mar 2024, 17:02 PM

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One entity will concentrate on Commercial Vehicles and related investments, while the other will manage Passenger Vehicles, encompassing PV, EV, JLR,

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One entity will concentrate on Commercial Vehicles and related investments, while the other will manage Passenger Vehicles, encompassing PV, EV, JLR, and associated investments. (REUTERS)

Tata Motors on Monday said its board has approved the proposal to demerge the company into two separate listed entities.

The commercial vehicles business and its related investments would be housed in one entity while the passenger vehicles businesses including PV (Passenger Vehicle), EV (Electric Vehicle), JLR ( Jaguar Land Rover), and its related investments would be part of the other entity, the auto major said in a regulatory filing.

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The demerger will be implemented through an NCLT scheme of arrangement and all shareholders of TML (Tata Motors Ltd) shall continue to have identical shareholding in both the listed entities, it added.

Tata Motors shares on Monday ended 0.12 per cent down at ₹987.20 apiece on the BSE.

First Published Date: 04 Mar 2024, 17:02 PM IST

TAGS: Jaguar Tata Jaguar passenger cars Tata Motors