SML Mahindra to acquire M&M Truck and Bus Division for ₹525 Cr

SML Mahindra Limited's Board of Directors has approved the acquisition of Mahindra & Mahindra's Truck and Bus Division (MTBD) on a slump sale basis for a consideration of ₹525 crore, subject to working capital adjustments. The transaction includes the transfer of employees, assets, intellectual property, and liabilities of the MTBD Business Undertaking. The acquisition is subject to shareholder approval. In FY26, the MTBD Business Undertaking reported a turnover of ₹2989 crore and sold 14832 vehicles. Mahindra & Mahindra Limited is the holding company and promoter of SML Mahindra, holding 58.97% of its equity.