Mahindra CIE to be $3bn firm by April 2014: Chairman

Auto major Mahindra & Mahindra (M&M) would complete the merger of its wholly owned unlisted companies into one composite component entity by April next year. In an exclusive chat with CNBC-TV18's Ronojoy Banerjee, chairman of Mahindra CIE, Hemant Luthra said that post the merger the combined entity, Mahindra CIE will become a USD 3 billion firm.

He further added that the company doesn't require capex now given the slowdown in the industry. "Let us use the capex that is already in place to get the maximum return. We will do capex when we need to do capex. So when Tata Motors, Maruti comes back we will put in capex," he added.

Also Read: Mahindra to launch first small aircraft in India in 2 years

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