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Mahindra and Mahindra to list 10 group companies

Friday, 20 Nov 2020
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Mahindra and Mahindra (M&M) is drawing plans to take 10 of its most promising units public in the next five-seven years.

M&M has identified the 10 companies, across sectors such as mobility, clean energy, rural, financial services, infrastructure and technology.

The 10 units identified by M&M include cleantech firm Mahindra Susten, diesel generator maker Mahindra Powerol, electrical steel processor Mahindra Accelo and supply-chain consultant Bristlecone.

Classic Legends, the maker of Jawa Motorcycles; Mahindra Electric Mobility, the maker of the electric vehicles; and used-car seller First Choice Wheels are also among the 10 companies that will sell shares to the public for the first time.

The company expects two-three businesses to IPO in the next two-three years, some will go public in three-five years and others in five-seven years.

These 10 companies were identified as part of M&M’s strategic plan to ensure 18 percent return on equity (RoE) across all business units in the mid-term.

To achieve the target, the company is to sell loss-making units including SsangYong Motor Company, the US-based electric bike startup GenZe and Australia-based small aircraft maker GippsAero.

The company is scouting for investors in its used-car business to capitalise on the demand momentum for pre-owned cars.

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