of accounting fraud, for about $350 million. Tech Mahindra stanched the bleeding at Satyam and the deal has put it into the top five of Indian IT outsourcers.
Earlier this year Mahindra was interested in buying at least part of Swedish carmaker Saab Automobile, later bought by a consortium, sources said. It was also reported to be eyeing bankrupt U.S. aerospace manufacturer Hawker Beechcraft.
"They are very portfolio-centric, opportunistic, in their M&A strategy. They believe in zeroing into a stressed situation and cleaning the mess quickly so that you can capture the value," said the investment banking head with a European bank.
Not every deal has been a winner, and past attempts to build a global presence have delivered mixed results.
French carmaker Renault bailed out of a loss-making joint venture with Mahindra in 2010 after disappointing sales of their no-frills Logan sedan, which was launched in 2007 amid much hype and a hope to export the vehicle.
Its two-wheeler business, which Mahindra launched in 2008 through its acquisition of Kinetic Motor for about $20 million, also has not been able to make a significant dent in the market.
Mahindra's interest in Aston Martin has caused plenty of head scratching in financial and automotive circles.
"You shouldn't buy anything that is available at a cheaper price, if it's not a right fit. That's the main concern with Mahindra's bid for Aston Martin. I am not sure if it's worth their money and time," said the executive at the European bank.
Rathore of IHS said Aston Martin would require plenty of additional investment. "It doesn't make sense to have a trophy like Aston Martin because it's quite an expensive trophy to have," he said.
"They will need to look at range expansion and new product development. They can't escape from that."