Mahindra-SML deal: M&M acquires 58.96% in SML Isuzu for Rs 555 crore, renames it SML Mahindra

Mahindra & Mahindra Ltd (M&M) on Saturday stated it has accomplished the acquisition of a 58.96% controlling stake in business car maker SML Isuzu Ltd from Japan’s Sumitomo Corporation and Isuzu Motors for Rs 555 crore.Following the buyout, the corporate has been renamed ‘SML Mahindra Ltd’, M&M stated in an announcement. The reconstituted board shall be chaired by Mahindra Group veteran Vinod Sahay, who has been appointed Executive Chairman efficient August 3, 2025. Dr Venkat Srinivas took cost as Executive Director and CEO from August 1, PTI reported.Both leaders will proceed in their present roles—Sahay as President of Aerospace & Defence, Trucks, Buses & Construction Equipment at Mahindra Group, and Srinivas as Business Head for Mahindra Truck & Bus (MTB) and Construction Equipment (CE).The acquisition additionally triggers a compulsory open provide to amass as much as 26% stake from public shareholders, in line with SEBI’s takeover laws.M&M stated the transfer is a major step towards increasing its presence in the >3.5-tonne business car (CV) class, the place its present market share is simply 3%, in comparison with 54.2% in the sub-3.5-tonne mild business car section. The firm goals to double its market share in the section to six% instantly, with a medium-term purpose of 10–12% by FY31 and over 20% by FY36.SML, established in 1983, is a listed agency with nationwide presence and a powerful place in the intermediate and lightweight business car (ILCV) bus section, the place it instructions a 16% market share.The Competition Commission of India had accredited the transaction in June. The board’s decision to rename the corporate as ‘SML Mahindra Limited’ is topic to clearances from the Registrar of Companies (RoC), Central Registration Centre, Ministry of Corporate Affairs, and shareholders.