CCI nod impact: Mahindra & Mahindra, Delhivery shares rise up to 2%

Mahindra & Mahindra, Delhivery shares rise up to 2% after CCI approves acquisitions

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26 Aug, 2025 12:21

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Mahindra & Mahindra (M&M) and Delhivery shares recorded notable gains on June 18 after the two firms received approval from the Competition Commission of India (CCI) for their respective stake acquisitions of SML Isuzu and Ecom Express.

Mahindra & Mahindra:

Mahindra & Mahindra on June 17 announced that CCI has unconditionally approved the automaker's proposal to acquire 59 percent majority stake in heavy vehicle-maker SML Isuzu Limited. M&M had earlier informed exchanges that it has entered into an agreement to acquire the entire stake of 43.96 percent held by Sumitomo Corporation, the promoter of SML, and separately also acquire 15 percent stake held by Isuzu Motors Ltd, public shareholder of SML, for an aggregate consideration of Rs 555 crore.

CCI had also approved the M&M's proposal to make an open offer for acquiring up to 37.62 lakh equity shares of SML at a price of Rs 1,554.60 apiece. The acquisition will double Mahindra's market share in the trucks and buses segment of India's fast-growing economy to six percent, with a plan to raise that to 12 percent by fiscal year 2031, Mahindra had earlier said.

M&M shares surged over 1 percent to trade at Rs 3,039 apiece. SML Isuzu shares however dropped marginally to trade in the red at Rs 1,872 apiece.

Delhivery:

Delhivery on June 17 announced that the CCI has approved its proposal to acquire 99.4 percent stake in rival Ecom Express for up to Rs 1,407 crore.

Delhivery had earlier said that the acquisition will improve asset utilisation and boost profitability by adding to shipment volumes and eliminating overlapping costs. It also expects fewer integration challenges compared to its 2021 acquisition of SpotOn Logistics, which faced customer and volume absorption hurdles.

The company plans to retain a majority of Ecom's trained on-ground workforce, leveraging its own attrition cycle to absorb qualified staff without significantly bloating payroll.