The board of Tata Motors Limited (BSE:500570) approved the Spin-Off of The Passenger Vehicles businesses including PV, EV, JLR and related investments to its shareholders on March 4, 2024. As part of the transaction, the Passenger Vehicles businesses including PV, EV, JLR and its related investments will be demerged into another listed entity. The demerger will be implemented through an NCLT scheme of arrangement and all shareholders of TML shall continue to have the identical shareholding in both the listed entities.

IN a related transaction, Tata Motors Limited is demerging the Commercial Vehicles business and its related investments into separate listed entity. Since 2021, these businesses have been operating independently under their respective Chief Executive Officers. The demerger shall be placed before the Tata Motors Board of Directors for approval in the coming months and will be subject to all necessary shareholder, creditor and regulatory approvals which could take a further 12-15 months to complete.

The demerger will have no adverse impact on employees, customers, and our business partners.