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New Delhi6 days ago
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SML Isuju Limited is the Chandigarh -based commercial vehicle maker, which was established in 1983 as Swaraj Vehicals Limited.
The stocks of the truck-producing company SML Isuju Limited kept the lower circuits of 10% on April 25th. Mahindra and Mahindra Limited (M&M) have announced that he will buy a portion of the company. This agreement is Tk 555 crore. After this announcement, the stock has decreased.
Mahindra and Mahindra have signed an agreement to purchase 58.96% of the shares at Isuju at a price of Rs 650 per share. In addition, Mahindra and Mahindra Market Regulators will also bring an open offer to buy 26% shares in the 650/ share, according to the Techover Rules.
SML Isujur Stock is trading at 177.30 or from 10.00% to Rs 1,596.10. Shares have declined by 16.60% in the last 5 days.
5 big things related to the contract …
- Isujur preacher Sumitomo Corporation SML will buy 634..62 lakh shares of shares and buy Rs 650 per share, which will cost Rs 1.5 crore. It is 43.96%of the SML’s total shareholding.
- Izuzu Motors Limited will be obtained 15% of parts. It will purchase 21.70 lakh shares from Isuju Motors Limited, an Anand Mahindra -Malsu Motors Limited, which is about Rs 141.10 crore.
- Through this agreement, Mahindra wants to strengthen its grip 3.5 tonnes of commercial vehicles. This section has 3% of the market share of M&M, while the light commercial vehicles are 52%.
- Mahindra and Mahindra are expected to rise to 6% by double the market shares immediately after the agreement. The target of this company will increase the market share in 2030-31 by 10-12% and more than 20% between 2035-36.
- Kotak Investment Banking Financial Advisor and Khaitan & Co. Looking at the legal aspect of the agreement.
CEO says- this agreement is important to achieve 5x growth
Regarding this agreement, Dr. Anish Shah, CEO of Mahindra Group, said that this acquisition is an important milestone for the company’s 5X growth. He said it fits with our capital allocation strategy.
At the same time, Rajesh Jazurikar, executive director and chief executive officer of the M&M’s Auto and Firm sector, said the agreement would strengthen Mahindra’s position in the commercial vehicle market. This will help enhance our market coverage and use the production capacity better.
The company was established in 1983 as Swaraj Vehicals Limited
SML Isuju Limited is the Chandigarh -based commercial vehicle maker, which was established in 1983 as Swaraj Vehicals Limited.
It has a specialization in the production of light and medium commercial vehicles with buses, trucks, ambulances and customized specialized vehicles.
In 1986, after technical and financial support with Majda Motor Corporation and Sumitomo Corporation in Japan, it was named after Swaraj Majda Limited.
On the 21st, the “Swaraj” brand was removed and SML Isuju Limited after the departure of Majda.
Its vehicles are sold in the Indian market and selected international markets. Shares of its market in the Commercial Vehicle Department is 16%.
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