India's Mahindra to transfer truck, bus business to SML Mahindra
India's Mahindra to transfer truck, bus business to SML Mahindra July 29 (Reuters) - Mahindra & Mahindra MAHM.NS said on Wednesday it would transfer its truck and bus business to listed subsidiary SML Mahindra SMLM.NS for 5.25 billion rupees ($54.92 million), consolidating the group's commercial vehicle operations under a single entity.
The restructuring follows Mahindra's acquisition of a controlling stake in SML Isuzu in August 2025 from Sumitomo Corp and Isuzu Motors, after which the listed truck and bus maker was renamed SML Mahindra.
The truck and bus division generated revenue of 29.89 billion rupees in fiscal 2026, accounting for about 2% of Mahindra's total income from operations.
The transaction is expected to close by January 2027, the company said.
($1 = 95.5875 Indian rupees)
(Reporting by Chandini Monnappa in Bengaluru; Editing by Nivedita Bhattacharjee)
((Chandini.M@thomsonreuters.com; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))
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