Mahindra & Mahindra to Acquire 26.00% Stake in SML Isuzu Ltd for INR 584 Crore

Mahindra & Mahindra Limited (M&M) is making a mandatory open offer to acquire up to 37,62,628 equity shares of SML Isuzu Ltd, representing 26.00% of the voting share capital, at a price of INR 1,554.60 per share. This offer is being made in compliance with Regulations 3(1) and 4 of the SEBI (SAST) Regulations, pursuant to the execution of share purchase agreements with Sumitomo Corporation and Isuzu Motors Limited. The total consideration for the offer is INR 584,93,81,488.80, assuming full acceptance. The offer is not conditional upon any minimum level of acceptance and is not a competing offer.