Mahindra & Mahindra to Acquire 26.00% Stake in SML Isuzu for INR 1,554.60 per Share

Mahindra & Mahindra Limited (Acquirer), a public company limited by shares, has submitted a draft letter of offer to the eligible shareholders of SML Isuzu Limited (Target Company) to acquire up to 37,62,628 fully paid-up equity shares, representing 26.00% of the voting share capital of the Target Company. The offer price is INR 1,554.60 (Indian Rupees One Thousand Five Hundred Fifty Four and Sixty Paise Only) per equity share, payable in cash. The offer is not conditional upon any minimum level of acceptance and is not a competing offer. The offer is subject to certain statutory and other approvals, including the Required Statutory Approval.