mahindra & mahindra-spon gdr (MAHMF) Key Developments
Mahindra and Mahindra Plans to Invest USD 105.4 Million in Commercial Vehicle Business
Aug 27 15
Mahindra and Mahindra plans to invest INR 7 billion to expand its footprint in the light and intermediate commercial vehicle segment.
Mahindra and Mahindra to Launch New Compact SUV, TUV300
Aug 18 15
Mahindra and Mahindra is launching its new compact SUV, named TUV300, at Chakan plant in Maharashtra on September 10, 2015. The vehicle is an all-new SUV platform and has been designed and developed in-house by the Mahindra design team. The research and development of the vehicle has been conducted at the Mahindra Research Valley in Chennai. The model is a compact sub-four metre SUV and is to compete with the Toyota Etios Cross, Hyundai 120 Active and Fiat Avventura. It will be priced in the range of INR 623,000 to INR 889,000.
Mahindra & Mahindra Appoints Sanjoy Gupta as Chief Executive of Its South African Division
Aug 14 15
Mahindra & Mahindra has named Sanjoy Gupta as the new chief executive of its South African division. Gupta, who is based in India, previously served as the company's vice-president of customer service operations at the automotive division. He joined the company in 2003. Gupta has previously worked for Ford India and has more than 25 years of experience in the motor industry.
Mahindra & Mahindra Limited Declares Dividend
Aug 10 15
Mahindra & Mahindra Limited announced that at its AGM held on August 7, 2015, declared a dividend of INR 12 per ordinary (equity) share of the face value of INR 5 each.
Mahindra Logistics Reportedly Prepares For IPO Before 2018
Aug 10 15
Mahindra & Mahindra Limited (NSEI:M&M) is seeking an IPO of Mahindra Logistics Limited before 2018, according to sources. Mahindra & Mahindra hired McKinsey to help scale up Mahindra Logistics, sources added. Mahindra Logistics could go public once it touches revenue of $1 billion, sources informed. McKinsey will work with Mahindra for two more years, sources said. "We were a functional organisation earlier. We have verticalised the organization, so that we get closer to the customer and become more specialized," Mahindra Logistics Chief Executive Officer Pirojshaw Sarkari told Economic Times. "The thought process is very clear. We have set out to become a $1 billion company, and the quicker we achieve it, the faster we go out in the market." Pirojshaw Sarkari added. The Mahindra Group declined to comment on the hiring of McKinsey to Economic Times, but confirmed the restructuring process.