SML Mahindra to Acquire Mahindra Truck & Bus Division

The Board of Directors of SML Mahindra Limited has approved the acquisition of the Mahindra Truck and Bus Division from Mahindra & Mahindra Limited on a slump sale basis. The transaction is targeted for completion during the 2027 fiscal year.

"A Single Commercial Vehicle Entity"

The acquisition consolidates the Mahindra Group's commercial vehicle operations under SML Mahindra, creating a single entity with product coverage across light, intermediate, and heavy commercial vehicles, as well as buses in the greater than 3.5-tonne commercial vehicle category.

The transfer follows Mahindra & Mahindra acquiring a 58.97% controlling stake in SML Mahindra (formerly SML Isuzu Limited) from Sumitomo Corporation and Isuzu Motors Limited on August 1, 2025. The operational structure is designed to establish a unified market model and scale across its operations, technology, and commercial distribution.

"Deal Terms and Continuity"

Under the terms of the transaction, SML Mahindra will acquire the Mahindra Truck and Bus business as a going concern, meaning dealers, customers, supply chains, and existing product lines will transition without affecting operations or business. Contract manufacturing of Mahindra-branded trucks and buses will continue to be undertaken by Mahindra & Mahindra to maintain supply continuity.