{"id":564779,"date":"2023-03-23T09:37:23","date_gmt":"2023-03-23T04:07:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=564779"},"modified":"2023-03-23T10:29:57","modified_gmt":"2023-03-23T04:59:57","slug":"ifc-to-invest-rs-600-cr-in-mahindra-mahindras-new-last-mile-ev-firm-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ifc-to-invest-rs-600-cr-in-mahindra-mahindras-new-last-mile-ev-firm-2\/","title":{"rendered":"IFC to invest Rs 600 cr in Mahindra &amp; Mahindra&#8217;s new last-mile EV firm"},"content":{"rendered":"<p>Global development institution IFC will invest Rs 600 crore in a new last-mile mobility (LMM) company, a wholly-owned subsidiary of Mahindra &amp; Mahindra that will be newly incorporated (NewCo), it announced on Wednesday.<\/p>\n<p>IFC&#8217;s first investment in an EV manufacturer in the country, and the first in electric three-wheelers globally, will be in the form of compulsory convertible instruments at a valuation of up to Rs 6,020 crore.<\/p>\n<p>The Rs 600 crore investment will result in an ownership of between 9.97 per cent to 13.64 per cent for IFC in NewCo.<\/p>\n<p>NewCo will house the last mile mobility division, including three wheelers (Alfa, Treo, Zor) and four-wheeler SCV (Jeeto).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global development institution IFC will invest Rs 600 crore in a new last-mile mobility (LMM) company, a wholly-owned subsidiary of Mahindra &amp; Mahindra that will be newly incorporated (NewCo), it announced on Wednesday. IFC&#8217;s first investment in an EV manufacturer in the country, and the first in electric three-wheelers globally, will be in the form of compulsory convertible instruments at a valuation of up to Rs 6,020 crore. The Rs 600 crore investment will result in an ownership of between 9.97 per cent to 13.64 per cent for IFC in NewCo. NewCo will house the last mile mobility division, including [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-564779","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/564779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=564779"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/564779\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=564779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=564779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=564779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}