Press Release4 Mar 2024, 09:49 pm
Tata Motors to Demerge Commercial and Passenger Vehicle Businesses
AI Summary
Tata Motors Limited (TML) has approved the proposal to demerge its businesses into two separate listed companies, one housing the Commercial Vehicles business and the other housing the Passenger Vehicles business, including PV, EV, and JLR. The demerger will be implemented through an NCLT scheme of arrangement and is expected to lead to better growth prospects for employees and enhanced value for shareholders.,
Key Highlights
- Tata Motors to demerge commercial and passenger vehicle businesses
- Two separate listed companies to be created
- NCLT scheme of arrangement to be placed before the board and subject to shareholder, creditor, and regulatory approvals
- No adverse impact on employees, customers, and business partners