According to the Bank’s website, the proposed transaction entails an equity investment of up to INR 6,000 million (approximately US$73 million) in the form of compulsorily convertible instruments in a proposed new wholly owned subsidiary of Mahindra & Mahindra Limited. This subsidiary will be newly incorporated to house M&M’s last mile mobility business (LMM). Mahindra LMM plans to incur a total capex of US$113 million over the next 3-4 years towards development and manufacturing of its portfolio. IFC will finance US$73 million which will go towards capex, working capital requirements, etc. for the electric vehicle (EV) business of LMM, by way of an equity investment in the form of compulsorily convertible instruments.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Mahindra & Mahindra
Head Marketing LMM
Mahindra & Mahindra, K – Shed, Gate No 2, LMM division, Akurli Road, Kandivali East, Mumbai - 400101
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