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India's Mahindra and Mahindra, investors to invest $105 mln in unit
Reuters
·
1y ago
Medial
Indian automaker Mahindra and Mahindra, along with external investors, will invest 8.75 billion rupees ($105 million) in its unit, Classic Legends, over the next two to three years. This investment aims to strengthen the unit's position and support its growth in the automotive industry.
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Ontario Teachers'-backed Mahindra Susten to invest $150 mn in green energy projects
VCCircle
·
1y ago
Medial
Mahindra Susten, a renewable energy unit of the Mahindra Group, will invest $150 million in setting up solar and wind energy projects in India. The projects, with a combined capacity of 150 MW, will be developed in partnership with Ontario Teachers' Pension Plan Board. The Mahindra Group will also acquire a 26% stake in its solar power generating unit Gelos Solren for $4.8 million. The move aligns with India's goal of increasing non-fossil capacity and the Mahindra Group's aim to adopt 100% renewable energy by 2030.
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Zurich Insurance to pay $487 mln for stake in India's Kotak Mahindra Bank unit
Reuters
·
1y ago
Medial
Zurich Insurance Group plans to purchase a 51% stake in Kotak Mahindra Bank's general insurance unit for $487 million, marking the largest investment in an Indian non-life insurer by a global insurer. The move reflects Zurich Insurance's confidence in India's rapidly growing insurance market. The deal will give Kotak General Insurance a valuation of approximately $954.53 million, and Zurich Insurance has the option to acquire an additional 19% stake within three years.
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Why M&M shares crash 7% today; check latest news & targets
Business Today
·
5m ago
Medial
Mahindra & Mahindra (M&M) shares fell 7% as the board approved a Rs 4,500 crore investment in subsidiaries via rights issues. M&M plans to invest Rs 3,000 crore in Mahindra & Mahindra Financial Services and Rs 1,500 crore in Mahindra Lifespace Developers. Despite strong demand, recent innovations, and partnerships, investors reacted negatively to potential cash outflows. Analysts have mixed views, with target prices ranging from Rs 3,205 to Rs 3,675.
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Indian billionaire Ambani's Reliance Retail to raise $598 mln from ADIA
Reuters
·
1y ago
Medial
Abu Dhabi Investment Authority (ADIA) is set to invest 49.67 billion rupees ($597.58 million) in Reliance Retail Ventures, the retail unit of Reliance Industries owned by Indian billionaire Mukesh Ambani. The investment will give ADIA a 0.59% stake in the company at a valuation of $100.8 billion. This comes as Reliance Retail has been attracting investments from other entities like KKR & Co and Qatar Investment Authority, as it competes with Amazon and Flipkart.
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Mahindra calls for EV level playing field amid Tesla's India entry plans
Reuters
·
1y ago
Medial
Indian automaker Mahindra & Mahindra has urged the government for a level playing field between domestic and foreign players in the electric vehicle (EV) market. They emphasize the promotion of local manufacturing as India plans to attract Tesla and other global carmakers. Mahindra, along with Tata Motors, have privately requested not to reduce import taxes on EVs to protect domestic firms and their foreign investors. Indian EV sales experienced significant growth in 2021, with Mahindra expressing their commitment to listing their EV unit in the future.
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Singapore-based Temasek to invest Rs 1,200 crore in Mahindra Electric at $9.8B valuation
IndianStartupNews
·
2y ago
Medial
Mahindra & Mahindra, which operates in sectors including automotive, farm, and services businesses, said Singapore-based Temasek will invest Rs 1,200 crore in Mahindra Electric Automobile, the four-wheeler (4W) passenger electric vehicle company.
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UK’s BII extends timeline for final tranche investment in Mahindra’s EV arm
VCCircle
·
1y ago
Medial
Mahindra & Mahindra (M&M) announced an extension of the timeline for the final tranche of investment in its electric vehicle (EV) subsidiary by British International Investment (BII). The UK development finance institution had agreed to invest INR 1,925 crore in two stages. M&M said it has approved an investment of INR 12,000 crore in Mahindra Electric over the next three years and expects to generate sufficient operating cash. Singapore's Temasek has also invested INR 300 crore in Mahindra Electric and will invest the remaining INR 900 crore.
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Mahindra hails IIT-Madras startup developing electric flying taxis
Internet
·
1y ago
Medial
Anand Mahindra was amazed by ePlane, a startup from IIT Madras, developing electric flying taxis for speedy urban commutes. Founder Prof. Sathya Chakravarthy plans to unveil their first vehicle in 2025. Mahindra hailed IIT Madras as a top incubator, celebrating India's tech innovation surge. ePlane aims to democratize flying, backed by investors like Angel List's Naval Ravikant.
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1st automobile in-plant railway siding at Maruti Suzuki’s plant in Gujarat to eliminate 50,000 truck-trips
Thehindubusinessline
·
1y ago
Medial
Maruti Suzuki has built India's first automobile in-plant railway siding at its Hansalpur unit in Gujarat. The facility will allow the company to transport 300,000 finished cars by train, eliminating 50,000 truck trips annually. The project cost ₹105 crore and is connected to the Katosan-Becharaji-Ranauj route, thanks to a joint venture with Bahucharaji Rail Corporation. Maruti Suzuki aims to reduce carbon emissions by 1,650 metric tonnes and save 35 million litres of fossil fuel by using rail transport. The company is also constructing a similar railway siding in Haryana.
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NTPC Green sets price band for $1.2 bn IPO
VCCircle
·
9m ago
Medial
NTPC Green Energy has set a price range of 102 rupees to 108 rupees per share for its upcoming $1.19 billion IPO in India. The renewable energy company's IPO will open for bids on November 19 and close on November 22, with large "anchor" investors bidding on November 18. NTPC Green is a unit of state-owned power company NTPC and plans to use the proceeds to invest in its subsidiary NTPC Renewable Energy and repay debt. India's IPO market has been strong, despite recent large IPOs receiving a lukewarm response from investors due to a slide in the stock market.
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