Mahindra-SML deal: M&M acquires 58.96% in SML Isuzu for Rs 555 crore, renames it SML Mahindra

Mahindra & Mahindra has finalized its acquisition of a 58.96% controlling stake in SML Isuzu for Rs 555 crore, renaming it ‘SML Mahindra Ltd.’ This move aims to significantly expand M&M’s presence in the >3.5-tonne commercial vehicle category, targeting a market share increase to 6% immediately and a long-term goal of over 20% by FY36.