Mahindra & Mahindra Limited has announced the incorporation of Target Hybren Private Limited, a wholly-owned subsidiary of Mahindra Susten Private Limited (MSPL). This new subsidiary was registered on December 6, 2024, in Mumbai, Maharashtra. MSPL is itself a subsidiary of Mahindra Holdings Limited, which is fully owned by Mahindra & Mahindra.
The authorized and paid-up share capital for Target Hybren is ₹1.5 million, divided into 150,000 equity shares with a face value of ₹10 per share. Mahindra Susten has fully subscribed to this initial shareholding.
Target Hybren will operate in the renewable energy sector, focusing on power production and electricity generation. Its scope includes being an independent power producer and providing distributed energy solutions, such as rooftop solar installations, for various segments, including commercial, industrial, institutional, and residential. The company will leverage renewable energy sources and energy storage systems in its operations.
The move aligns with Mahindra’s broader strategy of expanding its presence in the renewable energy market.