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

SML Mahindra Limited's Board of Directors has approved the acquisition of Mahindra & Mahindra Limited's (M&M) Truck and Bus Division (MTBD Business Undertaking) for ₹525 crore on a slump sale basis. The acquisition includes employees, assets, intellectual property, and liabilities. The transaction is subject to working capital adjustments and requires shareholder approval. M&M, the holding company and promoter of SML Mahindra, holds 58.97% of its equity. The MTBD Business Undertaking reported a turnover of ₹2989 crore in FY 2025-26, selling 14832 vehicles. The deal is expected to be finalized by August 7, 2026.