Mahindra & Mahindra Ltd.

Mahindra First Choice services, an arm of Mahindra & Mahindra (M&M), is planning to sell a portion of its stake to raise up to $50 million. The money will to support company's expansion and strengthening technology for the future. Also it will help to expand its recently launched portal carworkz, which is being tested at Mumbai currently.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.