India, July 29 -- The Board of Directors of SML Mahindra Limited has approved the acquisition of Mahindra Truck and Bus Division from Mahindra & Mahindra Limited on a slump sale basis.

The transaction is expected to be completed during FY2027.

The acquisition marks a significant milestone in SML's growth journey and represents a strategic step for Mahindra Group towards creating a unified Truck & Bus business with a comprehensive presence across light, intermediate and heavy commercial vehicles, as well as buses in the >3.5T CV segment.

Following M&M's acquisition of a 58.97% stake in SML Mahindra Limited (formerly SML Isuzu Limited) from Sumitomo Corporation and Isuzu Motors Limited on August 1, 2025, and the subsequent mandatory open...