SML Mahindra to buy Mahindra Truck and Bus division ₹525cr
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Big move in the truck world: SML Mahindra is set to buy Mahindra Truck and Bus Division from its parent company for ₹525 crore.
The deal, cleared by SML's board on July 29, should wrap up this financial year and aims to bring both brands under one roof for smoother operations.
SML shares jump 20% on merger
This merger is all about making things more efficient: think better teamwork across light, intermediate, and heavy commercial vehicles.
Investors are clearly into it; SML's shares jumped 20% after the news broke.
Even after joining forces, Mahindra will keep building trucks and busses under its own name through a contract with SML, so expect business as usual but with a stronger lineup.