Mahindra expands renewable energy portfolio with new subsidiary Velos Hybren
Mahindra & Mahindra Limited announced today the incorporation of Velos Hybren Private Limited, a new step-down subsidiary focused on renewable energy operations. The company was incorporated on December 9, 2024, in Mumbai, Maharashtra, as a wholly owned subsidiary of Mahindra Susten Private Limited (MSPL).
The shares of Mahindra & Mahindra Limited were trading at ₹3,074.20 up by ₹22.95 or 0.75 per cent on the NSE today at 3.20 pm.
The new entity will concentrate on power generation and electricity production across various renewable energy segments. Specifically, Velos Hybren will develop independent power producer (IPP) projects, distributed energy solutions, and rooftop solar installations for commercial, industrial, institutional, and residential markets.
With an initial authorized and paid-up share capital of ₹15,00,000 divided into 1,50,000 equity shares, MSPL has fully subscribed to the company’s shares at par value. The subsidiary aligns with Mahindra’s strategic expansion in the renewable energy sector.
The incorporation follows Mahindra’s established corporate structure, with the new company being a subsidiary of MSPL, which is owned by Mahindra Holdings Limited, a wholly owned subsidiary of Mahindra & Mahindra Limited.
