Mahindra & Mahindra Ltd., a leader in automotive, farm, and services businesses, and Temasek, the Singapore-headquartered global investment firm, have executed a binding agreement for Temasek to invest INR 1,200 crore into MEAL (Mahindra Electric Automobile Limited), the four-wheeler (4W) passenger electric vehicle company. Temasek will invest INR 1,200 crore in the form of Compulsorily…
Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, announced that their investment of Rs. 10,000 Crore for electric vehicles has been approved under the Maharashtra Government’s industrial promotion scheme for Electric Vehicles. The company, through its subsidiary, will make investments of approx. Rs. 10,000 Crore over a period of 7-8 years…
Kirloskar Industries Limited (KIL), made an announcement of the proposed divestment of its 17.41% stake in Swaraj Engines Limited (SEL) to Mahindra &Mahindra Limited (M&M) on September 21, 2022. The divestment is proposed through inter-se transfer amongst the promoter through off-market transaction under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,…
British International Investment (BII), the UK’s Development Finance Institution and impact investor and Mahindra & Mahindra (M&M) have executed a binding agreement to invest up to Rs. 1,925 crores each into a wholly owned subsidiary of M&M that will be newly incorporated (“EV Co.”). BII will invest up to Rs 1,925 crores in the form…
Mahindra & Mahindra Limited announced it has acquired additional stake in MITRA Agro Equipments Private Limited. Post this acquisition, the company will hold a 47.33% stake in the company. According to the company’s exchange filing, “we would like to inform you that the Company has today, in exercise of its Call Option under the relevant…
Mahindra & Mahindra Limited announced the acquisition of 31.2% equity share in ReNew Sunlight Energy Private Limited (RSEPL) for Rs 16.07 crores. According to the company’s exchange filing, “We refer to our letter dated 6th July, 2021, informing that the Company had entered into a Share Subscription and Shareholders’ Agreement (“SSSHA”) with ReNew Sunlight Energy…
Mahindra & Mahindra Limited announced the appointments of Nisaba Godrej, Muthiah Murugappan and T. N. Manoharan to its Board of Directors. “Appointed Ms. Nisaba Godrej (DIN: 00591503) as an Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years commencing from 8th August, 2020 to 7th…
Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 19.4 billion Mahindra Group, announced that due to the evolving COVID situation in the country, the Company has scaled up its efforts to ensure health and safety of its employees, associates and supporting ecosystem. Accordingly, the Company has decided to prepone the scheduled maintenance…
In continuation of its strategic intent to grow its presence in the shared mobility space, Mahindra and Mahindra Ltd. (M&M) today announced that it has entered into definitive agreements with shareholders of Meru Travel Solutions Private Limited (Meru) to buy their respective stakes in Meru. It would acquire 44.14% shares from Private Equity investor, True…
Mahindra & Mahindra Ltd will put in fresh investments to the tune of Rs 3,000 crore on its electric vehicles business in the next three years, while it looks for more alliances and partnerships in the vertical, according to a PTI report. M&M is working on developing an EV platform by combining the capabilities of…
The Board of Directors of Mahindra and Mahindra Limited, an Indian multinational corporation, one of the largest vehicle manufacturers by production in India and the largest manufacturer of tractors in the world, announced that Dr. Anish Shah, presently the Deputy Managing Director and Group Chief Financial Officer, would take over as the Managing Director and…
Mahindra & Mahindra Limited (M&M) announced that VS Parthasarathy, President – Mobility Services Sector and Member of the Group Executive Board, has decided to leave the Group effective close of 1 st April 2021, to pursue personal interests. He desires, in this next phase of his career, to leverage his rich professional experience to consult,…
Mahindra & Mahindra (M&M) announced that Anish Shah will be the new Managing Director and Chief Executive Officer of the company with effect from 2nd April 2021 for a period of five years. Currently, Shah is handling the role of Deputy Managing Director and Group Chief Financial Officer in the company. “Accordingly, Dr. Anish Shah…
Ford India said that Anurag Mehrotra has returned as the Managing Director and President of the company. Mehrotra succeeded Bala Radhakrishnan, the acting president and MD of Ford India Pvt (FIPL). Radhakrishnan will resume the role of Director, Manufacturing at FIPL. Recently, the US automaker decided to call off its automotive joint venture with Mahindra…
Mahindra & Mahindra has announced the acquisition of a stake in Sampo Rosenlew Oy, a manufacturer of combine harvesters and forest machinery with market presence in Europe, CIS and Algeria. Post-acquisition, Mahindra stake in the company will increase from 74.97% to upto 79.13%, the filing said. With this acquisition, Mahindra’s scale in tractors and Sampo’s…