NIIF’s India-Japan fund to invest INR 400 Crore at a valuation of up to INR 6600 Crore in Mahindra Last Mile Mobility Limited

Mumbai, January 11, 2024: Mahindra & Mahindra Ltd. (“M&M”), a leader in automotive, farm and services businesses, and India-Japan Fund (“IJF”), a fund managed by National Investment and Infrastructure Fund Limited (“NIIF”) have executed a binding agreement for IJF to invest INR 400 Crore in Mahindra Last Mile Mobility Limited (“MLMML”), which houses M&M’s last-mile mobility business including three wheelers (Alfa, Treo, Zor) and four-wheeler SCV (Jeeto) brands.