SML Isuzu Limited has informed the Exchange regarding Outcome of Board Meeting held on August 01, 2025.
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Mahindra & Mahindra Limited (M&M) has completed the acquisition of 58.96% (85,33,053 equity shares) in SML Isuzu Limited from Sumitomo Corporation (43.96%) and Isuzu Motors (15%) on August 1, 2025, following two Share Purchase Agreements dated April 26, 2025 and their amendment agreements of July 29, 2025. Consequently, M&M has become the sole promoter of the company, while Sumitomo has ceased to be a promoter under SEBI LODR Regulation 31A(10). The Board has approved changing the company's name from 'SML Isuzu Limited' to 'SML Mahindra Limited', subject to MCA/RoC approval. Seven directors — including five Japanese nominees of Sumitomo and Isuzu and two independent directors — have resigned, and six new directors (two Executive Directors, one Non-Executive Non-Independent Director, and three Independent Directors) have been appointed effective August 1, 2025.
This marks a complete change of control at SML Isuzu, now firmly under the Mahindra Group, which may bring strategic synergies with Mahindra's automotive business. Shareholders should expect a new corporate identity, fresh board, and potential strategic realignment, while the referenced M&M open offer provides an exit option at a regulated price.