M&M may seek PE funds for newer ventures next fiscal

M&M may seek PE funds for newer ventures next fiscal
PTI
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First Published: Wed, Mar 18 2009. 07 33 PM IST
Updated: Wed, Mar 18 2009. 07 33 PM IST
Mumbai: Auto major Mahindra and Mahindra on Wednesday said it might look at private equity (PE) investment in some of its newer ventures in the next fiscal.
“We might look for some private equity investment in some of our newer ventures in the next fiscal,” Mahindra and Mahindra president (Finance) Uday Phadke told reporters on the sidelines of a CII-organised seminar here.
Phadke, however, did not reveal much, saying, “We are currently working on the budgetary process of the company and cannot give further details”.
He also did not spell out details of the company’s capex plan for the next fiscal but added that the company has so far put in less than Rs1,000 crore in the first nine months of this fiscal.
Asked whether M&M would look at raising funds in the next fiscal for its capex programme, he said, “Yes, we will be requiring funds. It will be met through internal generations and some borrowing”.
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First Published: Wed, Mar 18 2009. 07 33 PM IST