iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Mahindra's Mobility Arm Gets Rs 400 Crore Boost from India-Japan Fund

11 Jan 2024 , 02:10 AM

Mahindra & Mahindra Ltd announces a Rs 400 crore investment by the India-Japan Fund (IJF) managed by the National Investment and Infrastructure Fund (NIIF) in Mahindra Last Mile Mobility Limited (MLMML), the group’s last-mile mobility business.

IJF, a Rs 4900 crore ($600 million) fund, with anchor investors such as Japan Bank of International Cooperation and the government of India, focuses on environmental sustainability and low carbon emission strategies. It promotes investments by Japanese companies in India, fostering collaboration between Indian and Japanese firms.

This investment marks IJF’s first venture since its establishment in August 2023, valuing MLMML up to Rs 6,600 crore. The investment results in IJF holding a stake ranging between 6.06% and 8.25% in MLMML.

MLMML, incorporated as a Mahindra & Mahindra Ltd subsidiary, commenced commercial operations in September 2023. Earlier, the International Finance Corporation (IFC) had also invested in MLMML.

Anish Shah, the Group CEO and Managing Director at Mahindra Group, expresses confidence in attracting marquee investors, highlighting the business model’s robustness towards achieving a ‘Planet Positive’ mission by 2040.

Krishna Kumar G, Partner at India Japan Fund, NIIF, believes the investment with Mahindra will yield transformative results in the last-mile mobility domain, contributing to economic growth, employment, and environmental sustainability.

Rajesh Jejurikar, Executive Director and CEO of Auto & Farm Sectors at Mahindra & Mahindra, emphasizes the potential of large-scale electrification in the last-mile mobility segment, welcoming IJF as a partner in advancing technology and sustainable solutions for market growth.

For feedback and suggestions, write to us at editorial@iifl.com
 

Related Tags

  • carbon emission strategies
  • IJF
  • low carbon emission strategies
  • Mahindra
  • news
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

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)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.