India-Japan Fund to invest ₹400 cr in Mahindra Last Mile Mobility
₹400 crore in Mahindra Last Mile Mobility Ltd (MLMML), a subsidiary of Mahindra & Mahindra (M&M), valuing the company at ₹ 6,600 crore. The deal marks the Fund's first investment since it was set up in August last year, resulting in a projected 6-8% stake in MLMML.
The India-Japan Fund, managed by the National Investment and Infrastructure Fund Ltd (NIIF) and with a corpus of ₹ 4,900 crore, has the 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.
“The robustness of our business model has attracted marquee investors such as IFC in the past and now IJF, which will help us move closer to our mission to be ‘Planet Positive’ by 2040," said Anish Shah, group CEO & MD, Mahindra Group. "We are excited to announce NIIF’s partnership with Mahindra Group by way of IJF’s investment in Mahindra’s last mile mobility business, reflecting the fund’s commitment to invest in low carbon emission strategy opportunities," said Krishna Kumar G, partner, India-Japan Fund, NIIF.
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