Mahindra drives in BS 6 compliant XUV300
Mahindra & Mahindra Ltd., has launched its first BS6 compliant vehicle – XUV300. The BS6 version of the XUV300 will be available on all its 1.2 litre turbo petrol offerings. Mahindra is proactively transitioning its mobility portfolio to BS6 emission standards in a phased manner, well ahead of the statutory timeline of 1 April 2020. Rajan Wadhera, President, Automotive Sector, Mahindra & Mahindra Ltd. said, “We are delighted to launch our first BS 6 vehicle. It is a milestone in our BS6 transition journey. Despite tight timelines, we along with our suppliers, have met the challenging requirements of these tighter emission norms, much ahead of the stipulated timeline. We will progressively upgrade our entire range with cleaner emissions technology.”
Encourage Capital invests $15 mn in Electronica Finance
Pune-based Electronica Finance Ltd (EFL), engaged in machinery and other asset financing for MSMEs since 1990, has raised over Rs. 100 cr ($15 million) through issuance of Compulsorily Convertible Preference Shares (CCPS) to finance business growth in the existing product segments and to fund expansion into the new rooftop solar financing business. Encourage Capital, headquartered in New York, has taken a minority stake in EFL through its fund, Encourage Solar Finance, L.P. Shilpa Pophale, MD, Electronica Finance Ltd, said, “EFL has been growing at a rapid pace and continues to focus on the MSME sector, which despite being the new engine of growth has been facing numerous challenges, including availability of finance. The incremental funds raised will enable us to cater to the MSME segment in a more vigorous way as well as grow our business in machinery financing through various funding options. It will also fund our foray into the new rooftop solar financing business for MSMEs. We look forward to a long association with Encourage Capital, who have expertise in financial inclusion, clean energy finance, and other environment-related finance areas.”
