Earlier today, multiple reports, including one from Moneycontrol, suggested that Ashok Leyland was in advanced discussions with Japan’s Sumitomo Corporation to acquire its promoter stake in SML Isuzu. The speculation gained traction as Ashok Leyland scheduled an analyst call between 5:15 PM and 5:45 PM today, leading to investor anticipation regarding potential strategic announcements.
However, Ashok Leyland has now officially refuted these claims. In an exchange filing under Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, the company categorically stated that the news is “factually incorrect.” The statement urged stakeholders to disregard any misleading media coverage and reaffirmed its commitment to promptly disclose material developments through appropriate regulatory channels.
This clarification comes after an earlier CNBC Awaaz report suggested that Mahindra & Mahindra was also exploring a possible acquisition of Sumitomo’s stake in SML Isuzu at a price range of ₹1,400–₹1,500 per share — below the current market price.
With the denial now on record, investor focus is expected to shift to Ashok Leyland’s analyst call later in the day for further clarity on its business outlook.
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