
02/08/2025
𝗠𝗮𝗵𝗶𝗻𝗱𝗿𝗮 𝗧𝗮𝗸𝗲𝘀 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗼𝗳 𝗦𝗠𝗟 𝗜𝘀𝘂𝘇𝘂 𝘄𝗶𝘁𝗵 𝟱𝟴.𝟵𝟲% 𝗦𝘁𝗮𝗸𝗲, 𝗥𝗲𝗻𝗮𝗺𝗲𝘀 𝗶𝘁 𝗦𝗠𝗟 𝗠𝗮𝗵𝗶𝗻𝗱𝗿𝗮
Mumbai, August 2, 2025: Mahindra & Mahindra Ltd. (M&M) has finalized its acquisition of a 58.96% controlling stake in SML Isuzu Ltd. for ₹555 crore, marking a significant step toward strengthening its position in the commercial vehicle (CV) segment. The acquisition, executed at ₹650 per share, includes a 43.96% stake from Sumitomo Corporation and a 15% stake from Isuzu Motors Ltd. Following the buyout, SML Isuzu has been renamed ‘SML Mahindra Limited,’ pending regulatory and shareholder approvals.This move is set to double M&M’s market share in the >3.5-tonne CV segment from 3% to 6%, with ambitious plans to reach 10-12% by FY31 and over 20% by FY36. SML Isuzu, established in 1983, brings a strong legacy and a 16% market share in the intermediate and light commercial vehicle (ILCV) bus segment, complementing M&M’s dominant 54.2% share in the sub-3.5-tonne light commercial vehicle market. The acquisition is expected to drive operational synergies in manufacturing, cost, supplier networks, and product development.M&M has appointed Vinod Sahay as Executive Chairman of SML Mahindra Limited, effective August 3, 2025, and Dr. Venkat Srinivas as Executive Director & CEO, effective August 1, 2025. Both leaders will continue their existing roles within the Mahindra Group. The deal, approved by the Competition Commission of India in June 2025, also triggers a mandatory open offer for up to 26% of SML’s equity from public shareholders under SEBI Takeover Regulations.Dr. Anish Shah, Group CEO & MD of Mahindra Group, stated, “This acquisition aligns with our vision of delivering 5x growth in our emerging businesses, leveraging SML’s strong legacy and credible product portfolio.” With this strategic acquisition, M&M is poised to become a formidable player in India’s commercial vehicle market