Mahindra & Mahindra shares jump 2% after company gets unconditional CCI nod for SML Isuzu acquisition
Shares of Mahindra & Mahindra (M&M) rose 2% after the company received unconditional approval from the Competition Commission of India (CCI) for its proposed acquisition of a controlling stake in SML Isuzu Limited. As of 9:42 AM, the shares were trading 1.91% higher at Rs 3,064.70.
The acquisition involves purchasing a total 58.96% stake in SML Isuzu through two transactions—43.96% from promoter Sumitomo Corporation and 15% from public shareholder Isuzu Motors Ltd. Following the acquisition, M&M will launch an open offer to acquire up to 26% of the remaining equity from public shareholders at ₹1,554.60 per share, as per SEBI's takeover norms.
The CCI clearance, communicated on June 17 under Section 31(1) of the Competition Act, 2002, removes a key regulatory hurdle for the deal. M&M is expected to move ahead with the share purchase and open offer process shortly.
The acquisition is part of M&M's strategy to expand its presence in the commercial vehicle segment above 3.5 tonnes. Currently holding a 3% market share in this category, M&M aims to double its share to 6% with the completion of the transaction. The company further targets a market share of 10–12% by FY31 and 20% by FY36.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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