The shares of Tata Motors' commercial vehicle business were listed at Rs 335 apiece on the NSE on November 12, marking a premium of more than 28.5 percent from the discovered price. This officially completes the demerger of automaker Tata Motors.

The stock then dropped 1.5 percent to close at Rs 330 apiece, marking a rise of 26.56 percent from the discovery price. Its market capitalisation at the end of the debut day stands at Rs 1,21,516.94 crore.

The commercial vehicle segment will officially be known as Tata Motors. The shares of the passenger vehicle segment, known as Tata Motors Passenger Vehicles, were discovered at a price of Rs 400 apiece on NSE on October 14.

Earlier this year, the company fixed October 14 as the record date for determining the eligibility of the shareholders set to receive shares in its demerged commercial vehicle business. This means that investors who held Tata Motors shares as on the record date will be eligible for the demerger scheme. The demerger has already officially become effective from October 1.

Following the demerger, the passenger vehicle arm was subsequently renamed Tata Motors Passenger Vehicles (TMPVL), while the commercial vehicles entity was listed today as Tata Motors (TML).

In August last year, Tata Motors' board approved the demerger of its commercial and passenger vehicle divisions into two separate listed entities in order to sharpen business focus and capitalise on future growth opportunities. The 1:1 demerger created two focused entities - Tata Motors Commercial Vehicles (TMCV) and Tata Motors Passenger Vehicles (TMPV).