The investment will value the unit at 60.20 billion rupees and result in an ownership of about 9.97% to 13.64% for IFC in the newly incorporated company.
Automaker Mahindra and Mahindra Ltd said on Wednesday that World Bank member International Finance Corp (IFC) will invest 6 billion rupees ($72.58 million) in the company’s electric last mile mobility unit.
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The investment, which will be in the form of compulsory convertible instruments, will value the unit at 60.20 billion rupees and result in an ownership of about 9.97% to 13.64% for IFC in the newly incorporated company.
