homebusiness NewsWEF 2024: Mahindra has the mindset to grow business rapidly, bring in investors: CEO Anish Shah
WEF 2024: Mahindra has the mindset to grow business rapidly, bring in investors: CEO Anish Shah
Speaking to CNBC-TV18's Managing Editor Shereen Bhan, Mahindra CEO and Managing Director Anish Shah highlighted the company's approach of bringing in investors who help them grow the business much faster instead of looking at a new set of investors unless they can really help the company. Shah stressed that they have a good set of marquee investors who are keen to continue working with them.
Mahindra & Mahindra's Managing Director and CEO, Anish Shah, emphasised on Tuesday, January 16, that the company has the mindset to grow businesses rapidly and bring in investors who can catalyse the progress in particular businesses.
Speaking with CNBC-TV18 Managing Editor Shereen Bhan at Davos, Shah said, “For our growth gems, we will (look to bring investors), because our approach has been bringing investors who can help us grow the business much faster. And we may not look at a new set of investors coming unless there is someone who can really help us. We got a good set of marquee investors now, and they are keen to do a lot more with us.”
Underscoring the investors' increasing interest in increasing investment from a particular business into multiple businesses of Mahindra, Shah said that the investors are “keen to look at what else we’re doing.”
Shah further added that investors will be brought on board for some of these growth businesses only through bilateral conversations. The company will see interest from investors as it develops strong business plans for each of these businesses.
"For any of our fundraisers, we haven't sort of gone out and said we want to raise at this point, I can't say how many will take place. But it's something that as we develop strong business plans for each of these businesses, we will see interest from investors," he informed.
Talking about Mahindra's growth gems, Shah said, “So each of our growth gems has to grow 5x in the next five to seven years. Some of that will put us in the top two or three, some of that may take a little longer to get there. For us, it's about growing businesses the right way. We have a longer time horizon in that sense, while we have the urgency to grow fast right now.”
Shah suggested that the key to growth for the company is to have ambition and then to deliver it.
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