M&M raises Rs 1925 cr in a proposed EV subsidiary from BII at a valuation of Rs 70,070 cr

British International Investment (BII), the UK’s Development Finance Institution and impact investor and Mahindra & Mahindra (M&M) executed a binding agreement to invest up to Rs. 1,925 crores each into a wholly owned subsidiary of M&M that will be newly incorporated (“EV Co.”).