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Bond Market News
Tata Motors To Demerge Its CV and PV Businesses
May 6, 2025
Tata Motors is set to demerge its Commercial Vehicle (CV) and Passenger Vehicle (PV) businesses into two separate listed entities. Under the proposed scheme, the Commercial Vehicle business (including assets, liabilities, employees, and investments) will be transferred to a new entity called TMLCV. The Passenger Vehicle business, including Electric Vehicles (TPEM), Jaguar Land Rover (JLR), and related investments, will be merged into the current listed entity, which will be renamed TMPV. Post-demerger, both TMLCV (CV-focused) and TMPV (PV+EV+JLR-focused) will operate as independent, listed companies. The businesses have been functioning independently since 2021 under separate CEOs and have shown strong performance with distinct strategies. A shareholder vote on the demerger is scheduled for 6 May 2025, conducted virtually. If approved, shareholders will receive 1 share of TMLCV for every 1 share of TML they currently hold.
Tata Motors 5.875% 2025s traded stable at 99.9, yielding 7.34%
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