Mahindra & Mahindra To Acquire 58.96% Stake In SML Isuzu For Rs 555 Crore, 26% Open Offer To Follow

Mahindra & Mahindra Ltd (M&M) has announced plans to acquire a 58.96% stake in SML Isuzu Ltd for Rs 555 crore, strengthening its position in the Trucks and Buses segment. The deal values SML shares at Rs 650 each. Following the acquisition, M&M will also launch a mandatory open offer under SEBI regulations. This move is aimed at boosting M&M’s market share in the 3.5T CV segment from 3% to 6%, with future targets of 10–12% by FY31 and over 20% by FY36. SML’s strong brand presence, profitable operations, and synergies with M&M’s existing business are key growth drivers. Watch the conversation with Rajesh Jejurikar, ED & CEO, AFS, Mahindra & Mahindra, on SML Isuzu deal and future growth plans.