Mahindra & Mahindra Limited has informed the Exchange about Updates on Acquisition
M&M · price
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Mahindra & Mahindra (M&M) is acquiring a controlling stake in SML Isuzu Limited, a listed commercial vehicle maker. M&M will buy 43.96% from Sumitomo Corporation and 15% from Isuzu Motors, totalling about 58.96% from the promoters. Separately, M&M will launch a mandatory open offer to public shareholders for up to 26% at Rs. 1,554.60 per share. On June 17, 2025, the Competition Commission of India (CCI) unconditionally approved both the acquisition and the open offer, clearing a key regulatory hurdle. The deal was first approved by M&M's board on April 26, 2025. With CCI approval in hand, M&M can now move to complete the share purchase and trigger the open offer process.
This is a positive step for the deal's completion and brings M&M closer to consolidating SML Isuzu into its commercial vehicle business. Shareholders of SML Isuzu can expect the open offer at Rs. 1,554.60 per share to be launched soon, providing a clear exit price above market if the offer is attractive.