Mahindra and Mahindra Limited (M&M) has provided an update to stock exchanges regarding British International Investment Plc’s (BII) investment in Mahindra Electric Automobile Limited (MEAL). Originally, BII committed to investing ₹725 crores in MEAL. However, after a joint assessment of MEAL’s funding needs, M&M and BII have agreed to revise the final tranche to ₹650 crores.
The revised investment is expected to be completed by March 31, 2025, bringing BII Group’s total investment in MEAL to ₹1,850 crores. This will result in BII holding a 2.64% to 4.58% stake in MEAL on a fully diluted basis. M&M has clarified that this adjustment will not impact MEAL’s overall business plan.
