International Finance Corporation (IFC), a member of the World Bank Group, is weighing a $73-million equity investment in the new subsidiary of Mahindra & Mahindra Limited (M&M), the flagship company of Mahindra Group.
The new subsidiary, Mahindra LMM, will be incorporated to house M&M’s last-mile mobility business. It plans to incur a total capex of $113 million over the next 3-4 years towards the development and manufacturing of its portfolio, according to IFC’s disclosure.