Investment9 April 2026 at 07:49 am
Mahindra & Mahindra Invests in Subsidiary's Captive Power Plant in Punjab, India
AI Summary
Mahindra & Mahindra Ltd. has approved the acquisition of 26% stake in Neon Hybren Private Limited, a step-down subsidiary of the company, to establish a Group Captive Power Plant in Punjab, India. The power generated from the grid-connected photo voltaic ground-mounted captive power plant will be supplied to the company on a captive basis. The investment is expected to be completed by 31st December 2026.
Key Highlights
- Mahindra & Mahindra to invest in Neon Hybren Private Limited for a 26% stake
- Neon to establish a Group Captive Power Plant in Punjab, India
- Power generated will be supplied to Mahindra & Mahindra on a captive basis
- Investment is expected to be completed by 31st December 2026
- Neon is a step-down subsidiary of Mahindra & Mahindra and is primarily involved in Production and Sale of Power and Generating Electricity