Private Equity PE Fund Investments
NIIF managed fund to invest Rs.400-Cr in M&M’s EV arm
Source Mint (opens in a new tab)
The NIIF managed India-Japan Fund is to invest INR 400 crore in Mahindra Last Mile Mobility Ltd (MLMML) , a subsidiary of publicly listed Mahindra & Mahindra (M&M) operating in the electric vehicle space. The investor is likely to acquire a projected 6-8% stake.The MLMML investment is the first by the INR 4,900 crore India-Japan Fund which has Japan Bank of International Cooperation (JBIC) and the Indian government as its anchor investors. The fund's primary focus is on environmental sustainability and low carbon emission initiatives, while also facilitating Japanese investments in India.