Mahindra & Mahindra to raise Rs 5,000 crore for its EV business: Report
Mahindra & Mahindra is in talks with British International Investment (BII) and some other investors to raise Rs 5,000 crore for its electric vehicles (EV) unit, The Economic Times (ET) reported on Monday.
If the deal goes through, it will be BII’s second round of investment in India’s biggest sports utility vehicle maker by revenue. Its earlier fund infusion was done at a valuation of Rs 70,070 crore. The new deal is expected to value the company at 10-15 per cent more than that.
