M&M's board is likely to meet this week to evaluate the proposal and that the deal is likely to help M&M expand into the trucks and buses segment. At the end of the December quarter, promoters of SML Isuzu, Sumitomo Corporation, had a 43.96% stake in the company. CNBC-TV18 had reported back in June 2023 that JBM Auto is among the top contenders to acquire SML Isuzu as Sumitomo Corporation, SML Isuzu's Japanese promoters were looking to exit their India operations, sources had said back then.
