SML Isuzu Limited — Important, 26-04-2025: Agreements

The Board of Directors has authorized the execution of two substantial share purchase agreements. The first, between Sumitomo Corporation and Mahindra & Mahindra Limited, involves the acquisition of 6,362,306 equity shares, representing 43.96% of the Company’s equity, at a price of ₹650 per share, totaling ₹4,135.50 million. The second agreement with Isuzu Motors Limited pertains to 2,170,747 shares, equivalent to 15% of the equity, also at ₹650 per share, amounting to ₹1,410.99 million. Completion of both transactions is contingent upon customary conditions, including requisite approvals from the Competition Commission of India. Following these transactions, the Purchaser will attain control of the Company, reclassifying existing promoters to public shareholders and facilitating changes in the Board of Directors. This development hints at a significant shift in the Company's management and governance structure, necessitating close monitoring from investors.