MG Motor plans to raise funds in big India push

The valuation of Tata Motors' electric business for TPG's investment has been set as a benchmark for the fundraising for MG Motor's Indian arm said an investor banker involved in the talks. "Our discussion with investors shows that MG Motor has more experience and is about two generations ahead of the Indian market, which makes valuation quite closer to the Tata Motors-TPG deal," he added. The proposed fundraising would provide MG Motor India with medium-term capital to scale up operations.

from Auto-Industry-Economic Times https://ift.tt/vsBKzNX