Mahindra Last Mile raises ₹322 crore at ₹10,822 crore unicorn valuation
Mahindra Last Mile Mobility has raised ₹322 crore from Lightrock, IFC and India-Japan Fund, valuing the electric commercial-vehicle maker at ₹10,822 crore. The company is targeting an IPO in the second half of FY27 as it scales EV deployment and leads India’s L5 electric three-wheeler segment.
Mahindra Last Mile Mobility raised ₹322 crore from Lightrock, IFC and India-Japan Fund at a ₹10,822 crore unicorn valuation. The Mahindra subsidiary plans an IPO in FY27’s second half, supported by leadership in India’s fast-electrifying commercial three-wheeler market.
Why this matters
The funding follows recent signals that Mahindra Last Mile Mobility became a unicorn and is targeting an H2 2027 IPO, reinforcing its EV expansion and public-listing plans.
Retail-company signals are accelerating, up 254380% QoQ.