M&M Share Price: Anand Mahindra-Led Company Stock Climbs As CCI Clears Major Stake Buy In SML Isuzu - Details

Shares of Mahindra & Mahindra (M&M) moved upwards over the last two days after the Competition Commission of India (CCI) cleared the company’s proposal to acquire a 59% stake in SML Isuzu, a move that paves the way for M&M’s wider footprint in India’s commercial vehicle space.

M&M share price, which closed at Rs 3,007.20 on the National Stock Exchange (NSE) on June 17 (Tuesday), jumped ~1.78% to Rs 3,041.00 on June 18 (Wednesday). The stock continued its upward trend on June 19 (Thursday), adding around 1.05% to reach approximately Rs 3,073.00 (early morning)—marking roughly a 2.18% gain over the two days.

Buoyed by investor optimism surrounding the acquisition, the company's stock rose over 1.21% from the previous day's close to touch Rs 3,077.10 on the BSE on June 19. The regulatory clearance came through on June 17, with the antitrust body giving an unconditional nod under Section 31(1) of the Competition Act.

It was earlier reported that M&M plans to buy 43.96% from Sumitomo Corporation and 15% from Isuzu Motors, for a total consideration of around Rs 555 crore. The move is expected to trigger an open offer for an additional 26% stake in SML Isuzu at a price of Rs 1,554.60 per share, in accordance with SEBI norms.

"The proposed combination relates to acquisition of SML Isuzu Ltd (Target) by Mahindra and Mahindra Limited (Acquirer)," CCI said in a release.

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Mahindra & Mahindra is the flagship company of the Mahindra Group. It is engaged in the automotive, farm equipment, agricultural products and services sector, etc.

"CCI approves the proposed combination involving acquisition of SML Isuzu Ltd by Mahindra and Mahindra Ltd," the regulator said in a post on X.

In April, Mahindra & Mahindra stated that it would acquire the entire stake of 43.96% held by Sumitomo Corporation, promoter of SML, and separately acquire a 15% stake held by Isuzu Motors, public shareholder of SML, for an aggregate consideration of Rs 555 crore.

Besides, the Mumbai-based automaker also stated that it will make an open offer to acquire a 26% stake in SML Isuzu in accordance with SEBI takeover rules.

M&M, on its part, claims that this acquisition marks a key milestone for Mahindra as it sets its sights on bolstering its position in the medium and heavy commercial vehicle (MHCV) segment—a space where the company currently holds a modest share.

By joining hands with SML Isuzu, M&M is aiming to double its MHCV market share to 6% in the short term, with long-term ambitions to scale it up to 10–12% by FY31, and further to 20% by FY36.

Incorporated in 1983, SML Isuzu has a presence in the trucks and buses segment. SML Isuzu brings to the table a well-established legacy in the commercial vehicle sector, with a focus on trucks, buses, and special-purpose vehicles. In FY24, the company posted revenues of Rs 2,196 crore and EBITDA of Rs 179 crore.