TMLCV allotment completes Tata Motors 1:1 demerger
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After National Company Law Tribunal approval, TMLCV allotted 368.23 crore fully paid shares of ₹2 each to Tata Motors shareholders in a 1:1 ratio. It also cancelled 500,000 existing shares, all held by Tata Motors, which ceased to be TMLCV's subsidiary. TMLCV plans to seek BSE and NSE listing approval.
Tata Motors shareholders gain TMLCV shares, pending listing approval. The demerger changes the group structure, and price impact is uncertain.