Particle.news
Download on the App Store
6 ARTICLES
·
last mo.

Mahindra & Mahindra to Acquire Majority Stake in SML Isuzu for Rs 555 Crore

The deal aims to expand M&M’s presence in the >3.5-tonne commercial vehicle segment, subject to regulatory approvals and a mandatory open offer.

Rajesh Jijurikar: "We are going to talk about how to get to 10 to 12% market share from this combined 6% today"
Image

Overview

  • Mahindra & Mahindra has signed an agreement to acquire a 58.96% stake in SML Isuzu for Rs 555 crore at Rs 650 per share.
  • The acquisition is subject to Competition Commission of India approval and a SEBI-mandated open offer for an additional 26% stake.
  • M&M aims to double its market share in the >3.5-tonne commercial vehicle segment to 6% initially and reach 10–12% by FY31 and over 20% by FY36.
  • The integration will leverage SML Isuzu’s strengths in buses, CNG, and EV platforms, while retiring the Swaraj brand.
  • Following the announcement, M&M shares rose 2.82%, while SML Isuzu shares hit a 10% lower circuit due to the open offer price being lower than the previous close.