Tata Motors expects to receive the final regulatory approval for its proposed acquisition of Iveco Group, excluding its defence business, by the end of August 2026. The approval would clear the way for Tata Motors to launch its voluntary tender offer for Iveco Group’s common shares.
“Regulatory approvals are in the final stage, with only one pending approval to be received by the company,” Girish Wagh, executive director, Tata Motors, said during the company’s Q1 FY27 media call.
Tata Motors has responded to all queries raised by the relevant authority and expects to receive the remaining clearance by the end of August. “All the queries of the competent authority have been addressed and the final clearance is expected to be received by the end of August 2026,” Wagh said.
Iveco Tender Offer Timeline: September–November 2026
Subject to receiving the approval, the tender offer is expected to open in early September and close by early November 2026. “Accordingly, the tender offer is expected to be launched in early September 2026, with an expected closure by early November 2026,” Wagh added.
Iveco Acquisition Deal Structure and Delisting Plan
The proposed acquisition, announced in July 2025, covers Iveco Group’s commercial vehicle operations and excludes its defence business. The separation of the defence business was one of the conditions attached to Tata Motors’ offer.
The acquisition will be undertaken through a voluntary tender offer for Iveco Group’s common shares, followed by its proposed delisting from Euronext Milan.
Tata Motors reported consolidated revenue of ₹20,667 crore in the first quarter of FY27, up 19 percent year on year. EBITDA stood at ₹2,257 crore, with a margin of 10.9 percent, while the EBIT margin was 8.5 percent.
Tata Motors Q1 FY27 Financial Results
Profit before tax and exceptional items stood at ₹3,049 crore. Profit after tax was ₹2,556 crore, aided by a mark-to-market gain on the company’s investment in Tata Capital. The company was net cash positive at ₹13,510 crore on a consolidated basis as of June 30, 2026.