M&M Finance's looks to double AUM of Lankan venture

Company exploring entry into Bangladesh

Mahindra & Mahindra Financial Services Ltd (MMFSL) is looking to double the assets of its Sri Lankan subsidiary Ideal Finance Ltd to Rs 16 billion over three-five years.

The entity has been re-branded as Mahindra Ideal Finance where MMFSL raised its stake from 38 per cent to little over 58 per cent in July 2021.

Ramesh Iyer, Vice-Chairman & Managing Director, Mahindra Finance said, Mahindra Finance is looking at expanding in Asia. This strategic partnership with the Ideal Group of Sri Lanka is a significant step in that direction. The strategy is to work with local partners to enhance business presence. The