Mahindra said to lead $500 million Zoomcar funding round
3 April 2019 2:47 AM IST
Mahindra is expected to pump in $300-400 million into Zoomcar, which will use the funding to buy more cars.Zoomcar?s valuation may shoot up close to $1 billion, if at least 40% of the deal is financed through the equity route
- 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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