Mahindra & Mahindra announced that in relation to British International Investment Plc.'s (BII) investment in Mahindra Electric Automobile (MEAL), the company and BII have jointly assessed the funding requirement for MEAL. Basis the assessment, the Company and BII have today mutually agreed that the final tranche of BII Group's (i.e. BII and/or BII India EV LLP) investment would be Rs. 650 crore
to be completed by 31 March 2025, as against earlier planned investment of Rs. 725 crore.
Consequently, the total investment by BII Group in MEAL would be Rs. 1,850 crore resulting in BII Group having a shareholding in the range of 2.64% to 4.58% of the Share Capital of MEAL, on a fully diluted basis.
Above change will have no bearing on MEAL's overall business plan.