M&M targets H2 2027 IPO for Last Mile Mobility; SML merger set for FY27
Mahindra & Mahindra says it will merge its Truck and Bus Division into SML Mahindra in FY27, retaining about 59% of the combined company. Its electric three-wheeler business, Last Mile Mobility, remains on track for an IPO in H2 CY27.
Mahindra & Mahindra will merge its Truck and Bus Division into SML Mahindra in FY27, retaining about 59% of the combined company. Its electric three-wheeler unit, Last Mile Mobility, remains on track for an IPO in H2 2027.
Why this matters
Following record June-quarter profit of ₹5,455 crore and an EV turnaround, M&M is advancing its mobility strategy after Q1 SUV and tractor demand supported a capacity push and an “attack mode” stance.
Retail-company signals are accelerating, up 253940% QoQ.