Tata Motors shares leapt 4.05% to ₹399.05 on the BSE after the company announced that its takeover of Iveco Group N.V. is now fully unconditional.
The move followed the acceptance of 238.16 million common shares, amounting to 89.42% of Iveco’s normalised share capital — a figure that satisfies the revised 80% threshold set by the October 16 extraordinary general meeting.
Tata Motors had lifted its offer price to €14.40 per share, including dividends, after an earlier bid of €14.10. The €3.8 billion valuation covers Iveco’s commercial vehicle business but excludes its defence arm, marking the biggest acquisition for Tata since the 2008 JLR deal.
Payment for the accepted shares is scheduled for Oct 30, coinciding with the transfer of ownership. Shareholders who missed the initial tender window can re‑accept between Nov 2 and Nov 6, with payment due Nov 13. Final offer results will be disclosed on Oct 29.
Market watchers note that the consolidation could reshape Tata’s global commercial vehicle footprint and potentially alter its capital structure, prompting investors to monitor upcoming filings for further guidance.