Mahindra Group Builds Electric Unicorn Ahead of IPO

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Mahindra & Mahindra has invested approximately ₹900 crore in its electric vehicle business, MLMM, through equity infusions since 2023. External investors, including the India-Japan Fund, have also contributed to the company's growth. This significant investment has propelled MLMM to unicorn status, achieving a valuation milestone ahead of its planned initial public offering in 2027. The move highlights Mahindra's strategic focus on electric mobility.