Singapore's Temasek to invest ₹1,200 crore in Mahindra Electric

Singapore government-owned Temasek has agreed to invest ₹1,200 crore in Mahindra Electric Automobile Limited (MEAL). Temasek will invest the amount via compulsorily convertible preference shares under the deal, resulting in Temasek's MEAL shareholding to be between 1.49-2.97%. Investment will be made in multiple tranches and has risen MEAL's valuation by 15% from ₹70,070 crore to ₹80,580 crore.