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Tata Motors demerger, business split update: Shareholders to vote on May 6
Tata Motors has announced that it will convene a meeting of its equity shareholders on May 6, to vote on a proposed Composite Scheme of Arrangement involving the reorganization of its commercial and passenger vehicle businesses.
“We hereby wish to inform that pursuant to the Order dated March 25, 2025, (“Order”) the Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”) in the Company Scheme Application No. C.A.(CAA)/61/MB/2025, Meeting of the Equity Shareholders of Tata Motors Limited (“the Company”) is scheduled to be held on Tuesday, May 6, 2025 at 3.00 p.m (IST),” Tata Motors said in an exchange filing.
The meeting, to be held via video conferencing, follows an order from the National Company Law Tribunal (NCLT), Mumbai Bench, dated March 25.
The restructuring proposal, if approved, will lead to the demerger of the company’s Commercial Vehicles (CV) business into a new entity, TML Commercial Vehicles Limited, and the merger of Tata Motors Passenger Vehicles Limited (TMPV) into the parent company, Tata Motors Limited.
The Composite Scheme of Arrangement includes:
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- Transfer of the Commercial Vehicles business from Tata Motors Limited to TML Commercial Vehicles Limited through a demerger.
- Amalgamation of TMPV into Tata Motors Limited to consolidate the passenger vehicle operations.
- Issuance of shares to eligible shareholders as per the share entitlement ratio, based on an independent valuation report from PwC and a fairness opinion by SBI Capital Markets.
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