IPO
Electric commercial vehicle maker Mahindra Last Mile prepares for IPO
Mumbai-based Mahindra Last Mile Mobility (MLMML) is preparing for a proposed initial public offering (IPO) that could take place in 12 to 18 months. The firm is evaluating a plan to nearly double its manufacturing capacity through the expansion of existing facilities in Zaheerabad and Haridwar or the development of a new greenfield plant.Founded in 2023, MLMML is a manufacturer of electric commercial vehicles, including three-wheelers and four-wheelers. The company plans to introduce eight new products and variants over the next two years, with a focus on expanding into cargo segments. The company aims to use the upcoming capacity expansion to support this growth in cargo applications.
Between Oct 2023 and Jul 2026, Mahindra Last Mile Mobility had attracted about USD 153-M from IFC, Lightrock India, and NIIF.For FY26, Mahindra Last Mile Mobility had reported about INR 4,798 Cr in Operating Income and about INR 185 Cr in PAT.
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