BII to make Rs 650 cr in final tranche of investment on M&M's EV arm

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Earlier this year in May, the company had intimated that it and British International Investment Plc (BII) have mutually agreed to extend the timeframe for the final tranche of BII's planned investment of Rs 725 crore in Mahindra Electric Automobile Ltd (MEAL) and would jointly assess whether additional investment is required by December 31, 2024, M&M said in a regulatory filing.

Automaker Mahindra & Mahindra Ltd on Monday said British International Investment Plc will make a final tranche investment of Rs 650 crore, as against earlier planned investment of Rs 725 crore, in its electric vehicles arm.

BII and/or BII India EV LLP) investment would be Rs 650 crore to be completed by March 31, 2025, as against earlier planned investment of Rs 725 crore".

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Category: BusinessFinance

Markets: India

Topics: Mahindra Electric Automobile Ltd BII BSE SENSEX Major BII Group Banks (NEC) NIFTY 50 Mumbai British International Investment Plc BII India EV LLP Chakan Mahindra Group

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Article Type: News Report

Published On: 2024-12-30 @ 15:39:31 (5 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 402 words

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Sentences: 11 lines

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Copyright Owner: © Business Standard

News ID: 24737270

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