Mahindra & Mahindra (M&M) will transfer its Truck and Bus Division (MTBD) to its listed subsidiary SML Mahindra Limited for Rs 525 crore, consolidating the group's commercial vehicle operations under a single entity, the company said in a filing.
The board of directors of M&M approved the sale, transfer and disposal of the MTBD business undertaking on a slump sale basis to SML Mahindra under a Business Transfer Agreement (BTA). The agreement is expected to be executed on or before August 7, 2026, with the transaction likely to be completed by January 31, 2027, subject to regulatory approvals and fulfilment of other conditions.
