Samena, ICICI’s EIF stare at big haircut from bet on M&M’s two-wheeler biz

Dubai-based alternative investment group Samena Capital and ICICI Bank-managed Emerging India Fund’s investment in Mahindra & Mahindra’s (M&M) two-wheeler business is deep underwater as the two investors swapped their stake for shares of the listed parent.M&M had last year announced a plan to demerge the two-wheeler business from Mahindra Two ......