Mahindra to present analyst meeting, acquires majority stake in SML Isuzu

Mahindra & Mahindra (BSE:M&M) today conducted an analyst and press meeting in Mumbai, where it discussed the outcome of the recently concluded board meeting, and announced its acquisition of a 59% stake in SML Isuzu. Mahindra's presentation highlighted the company's journey so far, emphasizing a shift from turnaround and exit strategies in FY21 to pivoting for growth in FY22-24, and now delivering scale in FY25. A key aspect of this strategy is disciplined capital allocation, focusing on strong rights to win, meaningful potential, market-leading returns, and the ability to execute effectively. As part of this acquisition, Mahindra will acquire a 59% stake in SML at a price of INR 650 per share, for a total of INR 555 cr. Additionally, Mahindra will make an open offer to acquire up to 26% stake in SML at INR 1554.6 per share, for up to INR 585 cr. The transaction is subject to the receipt of CCI approval. Post-acquisition, the combined entity of Mahindra Truck & Bus and SML aims to achieve a market share of 6%, revenue of over INR 5000 Cr, and become the fourth-largest OEM in the >3.5T CV segment.