Automobile maker Mahindra & Mahindra is in advance talks with global investors to raise up to $1.3 billion in multiple tranches over the next two fiscal years. Sources said that the company which is currently valued at over $9.1 billion will raise this amount through stake sale.
Mahindra is preparing for establishing a new EV factory near Pune and developing platforms for its upcoming electric sport vehicles (SUVs) to dominate the sustainable transportation.
The Mahindra group has estimated an investment requirement of at least Rs 10,000 crore for its EV business over the next 2-3 years.
Rajesh Jejurikar, executive director and chief executive of (the auto and farm sector) of M&M, said regarding fundraising, “We are open to raising funds for our electric SUV business from like-minded investors, who espouse similar values and share our vision of bringing authentic and world-class vehicles to our consumers globally.’
“We will bring in external investment only if we find like-minded investors. We have not engaged any investment bankers at this stage,’ Jejurikar added.
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.