Mahindra Last Mile Mobility Ltd. Valued Up To INR 6,020 Cr by IFC, Receives 1st Tranche of Investment

In March 2023, the International Finance Corporation (IFC) committed to invest INR 600 Crore (in one or more tranches), at a valuation of up to INR 6020 Crore, in a new company housing the last mile mobility division of Mahindra Group.

Mahindra Last Mile Mobility Limited (MLMML) was incorporated as a subsidiary of Mahindra & Mahindra Ltd. (M&M), and it commenced commercial operations in September 2023, pursuant to closing of Asset Transfer Agreement and Business Transfer Agreements with M&M.

MLMML has since completed other regulatory and procedural requirements and has received the first tranche of INR 300 Crore from IFC. This partnership with IFC reflects the shared values and ambitions both entities have demonstrated in their commitment to sustainable, inclusive, and clean mobility solutions. MLMML will accelerate the green transition of the automotive industry in support of India’s climate targets.

MLMML will focus on scaling last mile passenger and cargo transportation solutions. Ms. Suman Mishra will lead MLMML as its Managing Director and CEO.

Mahindra Last Mile Mobility Limited is committed to the electrification of the mobility landscape, prioritising electric 3- and 4-wheelers. The company offers a wide portfolio of products in various fuel options, including 3-wheelers like Treo, Zor Grand, Alfa, and the 4-wheeler SCV - Jeeto.

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $ 43.7 Billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit


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