SML Isuzu Limited has informed the Exchange regarding Appointment of Mr. Vinod Kumar Sahay as Executive Director of the company w.e.f. August 01, 2025.
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Mahindra & Mahindra (M&M) has completed the acquisition of 85,33,053 equity shares (58.96%) of SML Isuzu from Sumitomo Corporation (43.96%) and Isuzu Motors (15%), making M&M the new sole promoter while Sumitomo ceases to be promoter. The Board has approved changing the company name from 'SML Isuzu Limited' to 'SML Mahindra Limited', subject to MCA/RoC approval. Six new directors have been appointed, including Dr. Venkataraman Srinivas as Executive Director and CEO, Mr. Vinod Kumar Sahay as Executive Director (both KMPs for 3-year terms), and four others including three Independent Directors. Seven directors have resigned, including the MD and CEO Mr. Yasushi Nishikawa, four Sumitomo/Isuzu nominee directors, and two Independent Directors, all due to the change in control.
This marks a complete ownership change at SML Isuzu, with Mahindra Group now in full control. Shareholders should expect rebranding to 'SML Mahindra', potential synergies with Mahindra's commercial vehicle business, and strategic direction shifts. The stock may see re-rating based on Mahindra's track record, though the company still has the same underlying business. Existing shareholders (excluding those who tendered in the open offer) now hold shares in a Mahindra-promoted entity.