Mahindra said to lead $500 million Zoomcar funding round

Mahindra said to lead $500 million Zoomcar funding round

  • Ltd) is in talks to raise around $500 million in a fresh funding round led by automaker Mahindra and Mahindra Ltd , said two people aware of the development.
  • An industry analyst said Zoomcar's valuation may shoot up close to $1 billion, if at least 40% of the deal is financed through the equity route.
  • Mahindra is expected to pump in $300-400 million into the company, said the second person mentioned above.
  • This transaction will close in the current quarter," the company said in response to Mint 's queries.


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