Overview
- BSE and NSE approved the listing and trading of the commercial-vehicle entity effective Wednesday, according to a Nov. 10 exchange filing.
- A total of 368 crore equity shares of face value Rs 2 each will list, with the stock placed in the trade-for-trade segment for the first ten sessions.
- Shareholders received a 1:1 allotment based on the Oct. 14 record date, with CV shares already credited to demat accounts and becoming tradable upon listing.
- The demerger became effective on Oct. 1, with the original company renamed Tata Motors Passenger Vehicles Ltd and the CV firm using the Tata Motors Ltd name for listing.
- Allotment of CV shares is tax-neutral at receipt under Indian rules, with capital gains applicable on sale and a cost allocation ratio to be provided for computing gains.