Tata Motors to demerge biz into two separate listed companies

New Delhi: 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.

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 Rs 987.20 apiece on the BSE.