JSW Group was set to become a new shareholder, fresh information suggests that Mahindra and Mahindra, as well as the Hinduja Group, are also vying for a significant share.
To reduce its Chinese identity and attract investments from Indian companies, MG Motor India aims to include new Indian stakeholders.
MG Motor India made 45-48 percent of its stake available for sale to Indian individuals or groups, as part of its strategy to strengthen its foothold in the Indian car market.
The company entered the Indian market in 2019 and currently offers a range of products, including the Comet, Astor, ZS, Hector, Hector Plus and Gloster.
Emergence of Mahindra and Mahindra and the Hinduja Group as potential bidders adds some drama to the ongoing developments.
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