Home-grown auto major Mahindra & Mahindra (M&M) on Monday said it will raise Rs 475 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.

In a regulatory filing, M&M said: "The Loans and Investment Committee... Has approved issuance and offer of 4,750 rated, listed, unsecured, redeemable 7.57 per cent secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 475 crore on a private placement basis."

M&M is all set to roll out a new MPV (Multi-Utility Vehicle) to take on the Maruti Suzuki Ertiga, reported ET Now. The channel said that the new MPV is likely to be launched some time next year. M&M is also eyeing UVs in the range above the XUV 5OO. Anand Mahindra's M&M is also looking to ramp up its SUV (Sports Utility Vehicle) line-up and is planning to develop two new platforms for the same.

Homegrown auto major Mahindra & Mahindra on Monday launched a new Bolero with mHawk D70 engine priced at Rs 6.59 lakh (ex-showroom Mumbai) for the SLE BS4 variant.

Christened as 'New Bolero Power+', its engine delivers 13 per cent more power and 5 per cent more mileage over the existing Bolero, M&M said in a BSE filing.

Mumbai, Sept.8: Mahindra & Mahindra (M&M) today joined hands with Ola in yet another instance of growing tieups between car companies and cab aggregators.

The agreement covers M&M and its group companies in finance and insurance as well as Mahindra First Choice, the used car division. The Mahindras will offer an integrated package to Ola drivers who buy their cars, covering purchase, finance and insurance.

Mahindra & Mahindra (M&M) has rebranded its electric mobility portfolio as Mahindra Electric aiming for a greater focus on technology and launch more electric models, besides supplying powertrains to other manufacturers.

Under the umbrella brand Mahindra Electric, the company will manufacture electric cars, license out electric vehicle technologies, electrify new and existing platforms and help deliver integrated zero emission mobility solutions.

Mahindra and Mahindra shares gained on Tuesday after its executive director and group president, auto and farm sector, Pawan Goenka said CNBC TV18 that the company is in talks with taxi-aggregators such as Ola and Uber for alliance.

At 12.36 pm, Mahindra and Mahindra shares were trading 0.63 per cent up at Rs 1431.00. The scrip opened at Rs 1429 and touched a high and low of Rs 1435.50 and Rs 1425.50, respectively. Sensex was trading 255.66 points up at 28,158.32.

Mahindra & Mahindra today announced the launch of DiGiSense, a technology solution that connects M&M vehicles, tractors, trucks and construction equipment to the cloud.

The new technology that is digitally enabled sending will be available across Mahindra breadth of mobility products from commercial and passenger vehicles to tractors and construction equipments.

MUMBAI: Mahindra & Mahindra (M&M) is said to have begun working on what is being pegged as the most affordable electric SUV in the world through its Mahindra Electric unit, formerly known as Mahindra Reva.

The compact SUV with electric powertrain has been codenamed S107, said people with knowledge of the matter. After the Verito electric version, this is the company's next major project in the space.

Mahindra & Mahindra on Wednesday reported a 12.35% rise in net profit for the fiscal first quarter, meeting expectations, helped by strong sales of its sport utility vehicles and trucks.

Mahindra's standalone net profit for the April-June quarter rose to 9.55 billion rupees ($143.07 million) from 8.50 billion rupees in the previous year. Analysts, on average, expected the company to report a net profit of 8.83 billion rupees, Thomson Reuters data showed.

Mahindra & Mahindra has set up a wholly owned subsidiary on Wednesday, called Mahindra Airways Limited with a paid up capital of Rs 5 lakh.

It is a wholly owned subsidiary of Mahindra Holdings Limited, which in turn is a wholly owned subsidiary of Mahindra & Mahindra Limited, M&M told BSE and National Stock Exchange (NSE) in a notification.

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