New Delhi, Sep 27 (IANS) Tata Motors Limited has announced that its demerger into separate commercial vehicle and passenger vehicle businesses will take effect on October 1.

The move comes after receiving approvals from its board, regulators, and the National Company Law Tribunal.

As part of the demerger, shareholders will receive one share in the new commercial vehicle company for each fully paid Tata Motors share held on the record date, the company said in a filing to the exchanges.

The record date is pending announcement and will be revealed after the completion of statutory filings. Upon confirmation of the record date, investors will receive one share in the CV and PV companies for each Tata Motors share they own.

Shares will be automatically credited to investors’ demat accounts

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