Mahindra & Mahindra Limited — JV/Acquisition, 09-04-2026: Acquisition

Mahindra & Mahindra (M&M) is investing up to Rs. 11.17 crore to acquire a 26% direct stake in Neon Hybren Private Limited, its step-down subsidiary. This strategic move ensures M&M's compliance with Electricity Rules 2005 to qualify as a captive user. Neon is developing a 30 MW solar power plant in Punjab, which will supply power to M&M. This investment enhances M&M's backward integration for power supply, supporting operational efficiency by securing renewable energy from a group captive plant.