Tata Motors Expects Final Approval for Iveco Acquisition by August-End

Key Highlights

• Final Iveco approval expected by August-end 2026.

• Tender offer likely to open in early September.

• Offer expected to close by early November.

• Iveco defence business excluded from the deal.

• Tata Motors had ₹13,510 crore net cash.

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 clearance will allow the company to move ahead with its voluntary tender offer for Iveco Group’s common shares.

Final Regulatory Approval Expected by August 2026

Speaking during Tata Motors Q1 FY27 media call, Girish Wagh, Executive Director, Tata Motors, said the regulatory approval process is now in its final stage, with only one clearance still pending.

According to Wagh, Tata Motors has responded to all the queries raised by the relevant authority and expects to receive the remaining approval by the end of August 2026.

The final clearance is important as it will allow Tata Motors to formally launch the next stage of its proposed Iveco acquisition.

Iveco Tender Offer Likely to Open in September

Once the regulatory approval is received, Tata Motors expects to launch its voluntary tender offer in early September 2026. The offer is expected to remain open until early November 2026.

The acquisition plan was announced in July 2025 and covers Iveco Group’s commercial vehicle operations. However, Iveco’s defence business is not part of the proposed transaction.

The separation of the defence business was one of the conditions linked to Tata Motors offer.

The acquisition will be carried out through a voluntary tender offer for Iveco Group’s common shares. After the offer, Tata Motors plans to pursue the proposed delisting of Iveco Group from Euronext Milan.

The transaction would give Tata Motors a larger presence in the global commercial vehicle market and expand its international commercial vehicle operations.

Tata Motors Q1 FY27 Financial Performance

The update on the Iveco acquisition comes as Tata Motors reported a strong financial performance for the first quarter of FY27.

The company recorded consolidated revenue of ₹20,667 crore, registering a 19% year-on-year increase.

Its consolidated EBITDA stood at ₹2,257 crore, while the EBITDA margin was 10.9%. The company reported an EBIT margin of 8.5% during the quarter.

Tata Motors profit before tax and exceptional items stood at ₹3,049 crore. Profit after tax reached ₹2,556 crore, supported partly by a mark-to-market gain on the company’s investment in Tata Capital.

The company also maintained a strong balance sheet. As of June 30, 2026, Tata Motors was net cash positive at ₹13,510 crore on a consolidated basis.

What Happens Next?

The immediate focus for Tata Motors is on securing the last regulatory clearance by the end of August. If the approval arrives as expected, the voluntary tender offer for Iveco Group shares could begin in early September and close by early November 2026.

The proposed transaction, excluding Iveco’s defence business, is therefore entering its final regulatory phase. Following the tender offer, Tata Motors plans to proceed with Iveco’s proposed delisting from Euronext Milan.

The acquisition could further strengthen Tata Motors position in the global commercial vehicle industry while adding Iveco’s commercial vehicle operations to its international portfolio.

Also Read: BLive Partners with Tata Motors to Deploy 1,000 Electric Mini Trucks

CMV360 Says

Tata Motors is nearing the final stage of its proposed Iveco acquisition, with the last regulatory approval expected by August-end. If cleared, the tender offer could open in early September and close by early November 2026. Excluding Iveco’s defence business, the deal will strengthen Tata Motors global commercial vehicle presence. Meanwhile, strong Q1 FY27 financial results and a healthy net cash position provide further support.