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2w ago

Mahindra Completes Acquisition of 58.96% Stake in SML Isuzu, Triggers SEBI Open Offer

The ₹555 crore deal activates a SEBI open offer for up to 26% equity, setting the stage for SML’s transformation into SML Mahindra under fresh leadership.

Mahindra acquires 58.96% stake in SML Isuzu; to be rebranded as SML Mahindra
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Overview

  • Mahindra & Mahindra acquired a 58.96% controlling stake in SML Isuzu from Sumitomo Corporation and Isuzu Motors for ₹555 crore at ₹650 per share.
  • The transaction obliges M&M to launch a SEBI‐mandated open offer for up to 26% of SML’s publicly held shares.
  • Pending regulatory and shareholder approvals, SML Isuzu will be rebranded as SML Mahindra Limited.
  • Vinod Sahay will assume the role of Executive Chairman of SML Mahindra from August 3 and Venkat Srinivas will become Executive Director and CEO from August 1.
  • M&M aims to immediately double its share in the >3.5-tonne commercial vehicle segment to 6% and target 10–12% by FY31 and over 20% by FY36.