Mahindra & Mahindra Limited — JV/Acquisition, 10-12-2024: Acquisition

Mahindra & Mahindra Ltd. has expanded its portfolio by establishing Velos Hybren Private Limited as a wholly owned subsidiary through Mahindra Susten Private Limited. The initial investment of Rs. 15 Cr involves subscribing to 1,50,000 equity shares at par. Velos Hybren will operate in the renewable energy sector, focusing on electricity production and sales, including rooftop solar installations for various segments. This strategic move aims to enhance Mahindra's capabilities in renewable energy and align with growing market demand for sustainable solutions.