Mahindra & Mahindra (M&M) will acquire SML Isuzu, with the share price running up 93% since April 28.
M&M will purchase a 43.96% stake and a 15% stake in SML Isuzu at Rs 650 per share, with plans for an open offer to acquire a 26% stake at Rs 1,554.6 per share.
SML Isuzu reported positive financial performance in recent months, with growth in revenue and operating margin.
M&M's acquisition of SML Isuzu aims to double market share, with plans for further growth in the coming years.