Mumbai, Nov 12 : The shares of Tata Motors' commercial vehicle business made a strong debut on the stock exchanges on Wednesday, listing at Rs 335 per share on NSE, up 28 per cent over the discovered price of Rs 260.75.

On the BSE, the shares were listed at Rs 330.25, a premium of 26 per cent from their earlier valuation of Rs 261.90 per share.

However, post-listing the shares --- which will now officially be known as Tata Motors Ltd -- fell by around 3.5 per cent from the listing price to a low of Rs 322.60 on the NSE.

At around 11:35 am, the stock was trading at Rs 328.65, down 1.90 per cent from the listing price on NSE. Meanwhile, shares of Tata Motors Passenger Vehicle were trading at Rs 404.75. down 0.69 per cent.

The listing marks the completion of the demerger of Tata Motors' commercial vehicle and passenger vehicle businesses, a strategic move aimed at enhancing business focus and unlocking value for shareholders.

The company had fixed October 14 as the record date to determine the eligibility of shareholders entitled to receive shares in the newly demerged commercial vehicle entity. The demerger officially took effect on October 1.

Following the split, the passenger vehicle division was renamed Tata Motors Passenger Vehicles Ltd (TMPVL), while the commercial vehicle entity retained the Tata Motors name (TML).

The board of Tata Motors had approved the 1:1 demerger in August 2024, creating two independent, listed entities'Tata Motors Commercial Vehicles (TMCV) and Tata Motors Passenger Vehicles (TMPV).

The move is intended to sharpen strategic priorities, strengthen operational agility, and capitalise on future growth opportunities across both verticals.

/IANS