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Mahindra & Mahindra has gained majority control of SML ISUZU Limited, completing its acquisition of an 85.33 lakh equity share stake, representing 58.96% of the voting capital. An open offer for an additional 37.62 lakh shares is ongoing at INR 1,554.60 per share, with total escrow deposits of INR 584.94 Crore. Following the ownership change, SML ISUZU's board has been significantly restructured with new executive and independent directors, and the company plans to change its name to 'SML Mahindra Limited'. Independent directors assessing the offer price noted it as fair but highlighted that the current market price of shares is significantly higher.