Mahindra to acquire stake in ICML
Mahindra & Mahindra, India's largest SUV manufacturer is planning to acquire a significant stake in ICML (International Car and Motor Ltd) Group in coming months. The M&M group has been in talks with ICML since last one year but no agreement has been signed between these companies till now. ICML is one of the fastest growing automobile company in India and its SUV Rhino Rx is becoming quite popular among SUV lovers, but the company doesn't has a significant market presence in the country. As M&M group has a large distribution network in India it can provide a large customer base to ICML products.
ICML Rhino Rx is available in three Diesel variants including Rhino Rx DLX, Rhino Rx S1 and Rhino Rx S2. The model is available in price range of Rs 6,25,957 - Rs 7,19,000 (Delhi ex-showroom price). M&M group currently sells one of the most Popular SUV's in India including Mahindra Bolero, Mahindra Scorpio and Mahindra Xylo. Though there is no confirmation from the Mahindra's side about this acquisition but it is expected that Mahindra group will acquire a significant stake in ICML group in coming months.
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