It reported operating revenue of `2,196 crore and EBITDA of `179 crore in FY24. It has profitable operations, frugal manufacturing, and strong engineering capabilities.
Anish Shah, Group CEO & MD of Mahindra Group, said the acquisition of SML Isuzu marks a major milestone in the Group’s vision of delivering 5x growth in emerging businesses. “This acquisition is aligned with our capital allocation strategy for investing in high potential growth areas which have a right to win and have demonstrated operational excellence,” he stated.
Rajesh Jejurikar, executive director and CEO of auto and farm Sector at M&M, said, “This is a pivotal step toward our ambition to become a full-range, formidable player in commercial vehicles by enhancing market coverage, unlocking operating leverage through platform consolidation, a unified supplier and network base, and better plant utilisation. Together, we are well-positioned to scale rapidly and drive profitable growth.”
The transaction, including the open offer, is subject to the approval of the Competition Commission of India and is expected to be completed within 2025 in accordance with SEBI Takeover Regulations. Kotak Investment Banking is acting as the financial advisor to M&M and manager to the open offer. Khaitan & Co acted as legal advisor to M&M.
