{"id":564780,"date":"2023-03-23T09:38:24","date_gmt":"2023-03-23T04:08:24","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=564780"},"modified":"2023-03-23T10:30:44","modified_gmt":"2023-03-23T05:00:44","slug":"world-bank-arm-ifc-to-invest-rs-600-cr-in-mms-new-last-mile-mobility-firm","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/world-bank-arm-ifc-to-invest-rs-600-cr-in-mms-new-last-mile-mobility-firm\/","title":{"rendered":"World Bank arm IFC to invest Rs 600 cr in M&amp;M&#8217;s new last-mile mobility firm"},"content":{"rendered":"<p>In a bid to scale up the penetration of affordable electric three-wheelers and small commercial vehicles (SCV), World Bank arm IFC is investing Rs 600 crore in a new last-mile mobility company wholly owned by Mahindra and Mahindra (M&amp;M). The firm will be a newly incorporated company (NewCo). <\/p>\n<p>This is IFC\u2019s first investment in an Indian EV manufacturer and the first in electric three-wheelers globally. It will be in the form of compulsory convertible instruments at a valuation of up to Rs 6,020 crore. The Rs 600 crore investments will give IFC an ownership of 9.97-13.64 per cent in the NewCo.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a bid to scale up the penetration of affordable electric three-wheelers and small commercial vehicles (SCV), World Bank arm IFC is investing Rs 600 crore in a new last-mile mobility company wholly owned by Mahindra and Mahindra (M&amp;M). The firm will be a newly incorporated company (NewCo). This is IFC\u2019s first investment in an Indian EV manufacturer and the first in electric three-wheelers globally. It will be in the form of compulsory convertible instruments at a valuation of up to Rs 6,020 crore. The Rs 600 crore investments will give IFC an ownership of 9.97-13.64 per cent in the [&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-564780","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\/564780","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=564780"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/564780\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=564780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=564780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=564780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}