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Mahindra Last Mile Mobility tops $1B valuation ahead of planned 2027 IPO
Mahindra Last Mile Mobility has become a $1 billion electric-mobility unicorn after ₹2,200 crore-plus of parent and external investment. FY26 revenue reached ₹4,798 crore, driven by EV three-wheeler sales, as Mahindra prepares a second-half 2027 listing.
Reported figures
From the report. Source details below
| Mahindra & Mahindra invested about ₹900 crore since | 2023 |
|---|---|
| External investors invested | ₹1,322 crore combined |
| Latest Lightrock-led round: | ₹322 crore |
| FY26 revenue: | ₹4,798 crore, versus ₹2,367 crore in FY24 |
| FY26 net profit: | ₹185 crore, versus ₹26 crore in FY24 and ₹246 crore in FY25 |
| FY26 vehicle sales: | 136,855, including more than 100,000 EVs |
Also in the report
- MLMM valuation exceeds ₹10,000 crore ($1 billion)
- External investors held 25% after Lightrock investment
- Electric three-wheelers accounted for 64% of the segment at end-June
The source
First seen