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Corporate News 24-Feb-22

Ideal Finance rebrands itself to Mahindra Ideal Finance

Ideal Finance, a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance/ MMFSL), today announced the rebranding of its company name to Mahindra Ideal Finance (MIFL). This rebranding will form the bedrock on which the two joint venture partners (Mahindra Finance and Ideal Group) will build the vision of making Mahindra Ideal Finance one of the leading licensed finance companies (LFC) in Sri Lanka. The investment by Mahindra Finance has already resulted in a strong recognition for the company with a re-rating from Fitch ratings to AA – (Outlook Stable). MMFSL's investment in Sri Lanka is part of Mahindra Finance's international strategy of expanding into India like Asian markets; especially those that are of strategic importance for the Mahindra Group for its automotive and farm equipment products.

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