New Delhi, July 29 -- SML Mahindra Limited has approved the acquisition of the Mahindra Truck & Bus Division (MTBD) from Mahindra & Mahindra Limited (M&M) on a slump sale basis, paving the way for the consolidation of the Mahindra Group's truck and bus operations under a single entity.

The transaction, which is expected to be completed during FY2027, will create a unified commercial vehicle business with a comprehensive portfolio spanning light, intermediate and heavy commercial vehicles, as well as buses in the above 3.5-tonne segment.

The proposed acquisition is aimed at simplifying the group's operating structure while creating greater scale, broader market coverage and sharper focus in the commercial vehicle market. The combined bus...