Business Update12 Jan 2024, 02:26 am
Mahindra & Mahindra to Invest Up to Rs. 630 Crores in Mahindra Electric Automobile Limited
AI Summary
Mahindra & Mahindra Limited has approved investment in the equity shares of Mahindra Electric Automobile Limited (MEAL) up to an amount not exceeding Rs. 630 crores by way of subscription to rights issue of equity shares of MEAL of Rs. 10 each at a premium of Rs. 4.50 per share. The proceeds shall be utilized by MEAL to meet its fund requirement for business operations.,
Key Highlights
- Investment of up to Rs. 630 crores in Mahindra Electric Automobile Limited
- Subscription to rights issue of equity shares of MEAL at a premium of Rs. 4.50 per share
- Fund requirement for business operations