Mahindra & Mahindra Expands Renewable Energy Footprint with Velos Hybren

Mahindra & Mahindra Ltd announced the incorporation of Velos Hybren Private Limited, a step-down subsidiary of the company.

Velos Hybren was established on December 9, 2024, in Mumbai, Maharashtra, as a wholly owned subsidiary of Mahindra Susten Private Limited (MSPL). MSPL is itself a subsidiary of Mahindra Holdings Limited, a wholly owned subsidiary of Mahindra & Mahindra Ltd. The certificate of incorporation for Velos Hybren is currently awaited.

Velos Hybren’s authorised share capital stands at ₹15,00,000, comprising 1,50,000 equity shares with a face value of ₹10 per share. Its paid-up share capital is also ₹15,00,000, with all equity shares fully subscribed to by MSPL, making it 100% owned by MSPL. This structure positions Velos Hybren as a step-down subsidiary under Mahindra & Mahindra Ltd.

Objective of the Company

The newly incorporated entity is focused on renewable energy and energy storage solutions. Velos Hybren aims to produce and sell power while serving as an Independent Power Producer (IPP). The company will concentrate on distributed energy solutions, including rooftop solar installations across commercial, industrial, institutional, and residential segments. Leveraging renewable energy sources and advanced energy storage systems, Velos Hybren is poised to play a key role in contributing to India’s sustainable energy goals.

By establishing Velos Hybren, Mahindra & Mahindra is furthering its commitment to renewable energy and sustainability. The subsidiary will address the increasing demand for clean energy solutions in India while supporting the company’s strategic objectives in the energy sector.

The establishment of Velos Hybren aligns with Mahindra & Mahindra’s focus on expanding its renewable energy footprint. With Velos Hybren’s expertise in solar and distributed energy, the company aims to cater to a diverse range of customers, from residential to large-scale commercial and industrial users. This move also supports the government’s vision of increasing the share of renewable energy in India’s energy mix and achieving sustainability targets.

On December 11, 2024, Mahindra & Mahindra share price opened at ₹3,052.00, touching the day’s high at ₹3,096.00, as of 10:11 AM on the NSE.

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