SML Isuzu Limited has informed the Exchange regarding Appointment of Mr. Ravi Venkatraman as Non- Executive Independent Director of the company w.e.f. August 01, 2025.
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Mahindra & Mahindra Limited (M&M) has completed the acquisition of 85,33,053 equity shares (58.96% stake) in SML Isuzu Limited from Sumitomo Corporation (43.96%) and Isuzu Motors (15%) on August 1, 2025, making M&M the sole promoter. The company will be renamed 'SML Mahindra Limited', subject to MCA approval. Following the takeover, the entire Japanese board (5 directors) and 2 independent directors resigned. Six new directors were appointed: Mr. Vinod Kumar Sahay as Executive Director, Dr. Venkataraman Srinivas as Executive Director & CEO, Ms. Mahima Chugh as Non-Executive Non-Independent Director (from M&M's Group Strategy Office), and three new Independent Directors – Mr. Arun Kumar Malhotra, Ms. Smita Mankad, and Mr. Ravi Venkatraman.
This is a landmark change-of-control event – the company now sits firmly within the Mahindra Group ecosystem, which could bring stronger strategic direction, capital backing, and synergy benefits, but also means dilution of the earlier Sumitomo-Isuzu joint venture character. Shareholders should watch for the new management's business strategy, open offer outcomes, and the formal name change. New CEO and board bring deep automotive and Mahindra Group experience, which is positive for long-term execution.