Mahindra & Mahindra 's cleantech arm, Mahindra Susten, has announced a significant leadership change that promises to drive its growth in the renewable energy sector. Avinash Rao has been appointed as the new Managing Director & Chief Executive Officer, effective September 24, 2025, marking a new chapter in the company's journey towards sustainable energy solutions.

Strategic Appointment to Fuel Growth

Rao brings nearly three decades of experience in the energy sector, spanning conventional energy, power transmission, and renewable energy. His appointment comes at a crucial time for Mahindra Susten, which has established itself as a leading independent power producer (IPP) in India. With over 1.60 GW of commissioned projects and a robust pipeline of nearly 3.60 GW across solar, wind, hybrid projects, and commercial & industrial solutions, the company is poised for significant expansion.

Expertise Across the Energy Value Chain

Dr. Anish Shah, Group CEO & MD of Mahindra Group, emphasized the strategic importance of this appointment, stating, "Avinash's deep expertise across the entire energy value chain—from platform creation to investment and operational excellence—will enable us to create long-term value for our stakeholders while accelerating the transition to a cleaner energy future."

Rao's most recent role was as CEO of Sustainable Energy Infra Investment Managers, where he managed India's largest pure-play Renewable Energy InvIT listed on the National Stock Exchange. His experience in building energy platforms from scratch across multinational utilities, infrastructure funds, and NSE-listed InvITs is expected to be invaluable in his new position.

Mahindra Susten's Ambitious Plans

Mahindra Susten is actively building capabilities in emerging areas such as energy storage and integrated renewable energy solutions. It aims to set benchmarks in reliable supply of clean energy, safety, diversity, quality, governance, and ESG practices.

Investor Confidence

The appointment has been welcomed by Ontario Teachers' Pension Plan, a long-term investor in Mahindra Susten. Bruce Crane, Executive Managing Director and Head of Asia-Pacific at Ontario Teachers', expressed enthusiasm about the ongoing partnership and Mahindra Susten's role as a key player in India's renewable energy sector.

Looking Ahead

As Avinash Rao prepares to take the helm, Mahindra Susten appears well-positioned to accelerate its growth, drive innovation, and expand its diversified renewable portfolio. The company's commitment to sustainability and climate action aligns closely with the Mahindra Group's broader vision, setting the stage for potentially transformative developments in India's renewable energy landscape.

With this strategic appointment, Mahindra Susten reinforces its commitment to leading India's renewable energy transition, promising an exciting future for the company and the sector as a whole.

Kotak Mahindra International has achieved a significant milestone by becoming the first Indian firm to receive a license from the United Arab Emirates' Securities and Commodities Authority (SCA). This license allows the company to operate investment funds and offer portfolio management services in the UAE, marking a notable expansion of Indian financial services in the Gulf region.

UAE Expansion and New Investment Opportunities

The newly acquired license paves the way for Kotak Mahindra International to launch UAE-domiciled funds tailored for retail investors. These funds will primarily focus on India-centric investment strategies, providing UAE investors with an opportunity to diversify their portfolios with exposure to the Indian market.

The company plans to open fund subscriptions by the final quarter of 2025, aligning their offerings with successful UCITS (Undertakings for Collective Investment in Transferable Securities) and India-domiciled strategies. This move is expected to strengthen the financial ties between India and the UAE, while offering new investment avenues for UAE-based investors interested in the Indian market.

Kotak Mahindra Bank's Robust Quarterly Performance

Alongside this international expansion, Kotak Mahindra Bank, the parent company, has reported strong quarterly results:

The bank's performance demonstrates solid growth in both its lending and deposit-taking activities, indicating a healthy expansion of its core banking operations.

Stock Performance

Reflecting the positive news, Kotak Mahindra Bank's shares traded at ₹2,021.30, marking a 2.14% increase. The stock has shown strong performance year-to-date, with gains of 13.00%.

This combination of international expansion and robust domestic performance positions Kotak Mahindra Bank for potential growth in both the Indian and Middle Eastern markets. The UAE license, in particular, opens up new opportunities for the bank to tap into the growing demand for India-focused investment products in the Gulf region.