SML Mahindra to Acquire Mahindra Truck & Bus Division for Rs 525 Crore

SML Mahindra Limited will acquire the Mahindra Truck & Bus Division (MTBD) from Mahindra & Mahindra Limited in a slump‑sale transaction valued at Rs 525 crore. The deal, slated for completion by FY 2027, is intended to unite Mahindra’s light, intermediate and heavy commercial‑vehicle operations under a single entity and expand its product range beyond the 3.5‑tonne segment.

Group CEO Anish Shah said the acquisition will simplify the Mahindra Group’s commercial‑vehicle structure, generate operational synergies and improve market coverage. The combined business aims to become a leading player in India’s commercial‑vehicle market, with a target commercial‑vehicle turnover of Rs 12,500 crore by FY 2032. Following the announcement, SML Mahindra shares rose to the upper circuit on the NSE.