SML Isuzu Limited has informed the Exchange about Newspaper Advertisements - Offer Opening Advertisement under SEBI SAST Regulations
SMLMAH · price
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Awaiting price reaction for this filing.
Mahindra & Mahindra Limited has completed the acquisition of 58.96% stake (85,33,053 shares) in SML Isuzu Limited from the existing promoters (Sellers) through off-market transfers on August 1, 2025, making it the new promoter of the company. Pursuant to this takeover, a mandatory open offer is being made for up to 37,62,628 equity shares (26% of voting capital) at INR 1,554.60 per share. The company will be renamed 'SML Mahindra Limited' subject to regulatory approvals. M&M has deposited INR 584.94 crore in escrow, more than the maximum consideration required. The tendering period runs from August 7, 2025 to August 22, 2025. Several board changes have occurred with Mahindra nominees replacing the previous directors, including the resignation of the existing MD/CEO.
This is a major corporate event signaling a change of control from Sumitomo/Isuzu to Mahindra & Mahindra. Shareholders should note that the IDC flagged the current market price (around INR 3,470) as significantly higher than the offer price of INR 1,554.60, advising shareholders to independently evaluate before tendering shares in the open offer.