SML Isuzu Limited , a prominent player in the trucks and buses segment, is set to undergo a significant transformation following its recent acquisition by Mahindra & Mahindra. The company's board has approved changing its name to SML Mahindra Limited, marking a new chapter in its corporate identity.

Name Change Approval and Process

The board of SML Isuzu Limited has given its approval for the company's name change to SML Mahindra Limited. This decision comes after receiving name reservation from the Registrar of Companies (Central Registration Centre, Ministry of Corporate Affairs). However, the name change is not yet final and requires several more steps before implementation:

1. Shareholder Approval: The proposed name change will be put to vote at the upcoming 41st Annual General Meeting (AGM) scheduled for September 26, 2025.
2. Statutory Approvals: Other applicable statutory authorities will need to give their consent.
3. Constitutional Amendments: Consequential amendments to the company's Memorandum of Association and Articles of Association will be made to reflect the new name.

Recent Acquisition by Mahindra & Mahindra

The name change proposal follows Mahindra & Mahindra's significant acquisition of SML Isuzu for ₹555.00 crore. The deal structure includes:

• Acquisition of a 43.96% stake from Sumitomo Corporation
• Purchase of a 15% stake from Isuzu Motors
• Plans for an additional 26% open offer

This acquisition has positioned Mahindra & Mahindra as a major stakeholder in the company, prompting the proposed rebranding to SML Mahindra Limited.

Company Background and Market Performance

SML Isuzu Limited, incorporated in 1983, has established itself as a key player in the trucks and buses segment of the Indian automotive industry. The company's shares recently closed at ₹3,998.00, experiencing a decline of 2.74% in the latest trading session.

Upcoming Annual General Meeting

The company has announced that its 41st AGM will be held on September 26, 2025, through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). Shareholders should note the following key dates:

The name change, if approved by shareholders and regulatory authorities, will mark a significant milestone in the company's history, reflecting its new association with the Mahindra Group. This rebranding is expected to align the company's identity with its new ownership structure and potentially signal new strategic directions in the competitive automotive market.

SML Isuzu Limited, a prominent commercial vehicle manufacturer, has received a favorable order from the Income Tax Department's Centralized Processing Cell (CPC), nullifying a previous tax demand of Rs 5,830.00. This development comes as a relief for the company, addressing a short deduction of tax issue that had been under scrutiny.

Details of the Order

The Assistant Commissioner of Income Tax (Centralized Processing Cell)-TDS issued the order on August 8. The nullification was based on a revised TDS return (Form 26Q) filed by SML Isuzu under its Plant TAN for the first quarter of the fiscal year.

Background

This recent order follows a previous intimation/order dated August 2, which the company had communicated to the stock exchanges on August 5. The latest update was received by SML Isuzu on August 8, and promptly disclosed to ensure transparency and compliance with regulatory requirements.

Regulatory Compliance

In line with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, SML Isuzu has duly informed the BSE Limited and the National Stock Exchange of India Ltd. about this development. The disclosure was made under Regulation 30(2) of the LODR Regulations, read with Clause 20 of Para A of Part A of Schedule III.

Company's Response

Parvesh Madan, Company Secretary & Compliance Officer of SML Isuzu Limited, signed the regulatory filing, affirming the company's commitment to keeping shareholders and the market informed about significant financial and regulatory matters.

Investor Information

While this tax-related update is significant, SML Isuzu has also been proactive in addressing other shareholder concerns. The company recently announced a special window for the re-lodgement of transfer requests for physical shares, open from July 7 to January 6. This initiative aims to assist investors who may have missed previous deadlines for transferring their physical shares.

Shareholders with queries regarding share transfers or other investor-related matters are encouraged to contact the company's Registrar and Share Transfer Agent, M/s MCS Share Transfer Agent Limited, or reach out directly to SML Isuzu's investor relations team.

The resolution of this tax demand and the company's proactive approach to shareholder services demonstrate SML Isuzu's commitment to maintaining strong financial practices and investor relations.