Mahindra & Mahindra Ltd. (M&M) said it has acquired 58.96% stake in SML Isuzu Ltd. (SML) from Sumitomo Corporation, Japan and Isuzu Motors Ltd, Japan and as part of the transaction would also launch a mandatory open offer for acquisition of up to 26% stake from eligible public shareholders of SML as per SEBI Takeover Regulations.
M&M said the Board of Directors of SML has been reconstituted. Vinod Sahay, President – Aerospace & Defence, Trucks, Buses & CE – Mahindra Group, has been appointed as Executive Chairman of SML Isuzu, effective August 3.
Venkat Srinivas has been appointed as the Executive Director & Chief Executive Officer of SML Isuzu Ltd., effective August 01.
The Board of Directors of SML has also approved a change in the name of the company to ‘SML Mahindra Ltd’ subject to approvals from RoC, Central Registration Centre, MCA and shareholders of the Company or any other authority as may be necessary.
In April 2025, M&M had entered into an agreement to acquire a 58.96% equity stake in SML at ₹650 per share, representing a total investment of ₹555 crore. Mr. Sahay who is a member of the Group Executive Board of Mahindra Group, in addition to his new role in SML Isuzu Ltd, will continue to serve as President – Aerospace & Defence, Trucks, Buses and Construction Equipment sector of Mahindra group.
Dr. Srinivas, in addition to his new role, will continue to serve as the Business Head for Mahindra Truck & Bus (MTB) and Construction Equipment (CE).
Published – August 02, 2025 07:32 pm IST
