Mahindra & Mahindra Ltd.
BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3178.65
58.20 (1.87%) M&M enters into JV agreement with Ideal Motors
Date: 27-03-2018Mahindra & Mahindra (M&M) has agreed to enter into a Joint Venture (JV) agreement with Ideal Motors (Sri Lanka) (Ideal) to form a JV Company in Sri Lanka (NewCo) and subscribe/acquire upto 35% of the Share capital of NewCo with the remaining proposed to be held by Ideal and/or any of its affiliates. The NewCo will be formed for the purpose of assembly of vehicles in Sri Lanka.
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.