There is no denying to the fact that the Indian conglomerate, Mahindra Group has very ambitious global in its bag which it aims to fulfil in the years to come, but the company is thriving ahead with its local edge.

In fact, when the company announced its acquisition of Ssangyong on August 12th, the hall in Mahindra Towers at Worli in Mumbai where the Mahindra & Mahindra bosses address the media, was set on a buzz.

While the event took place in presence of people like Mahindra & Mahindra Vice-chairman Anand Mahindra and President (automotive & farm sector) Pawan Goenka, it gave another boost to the global ambitions of the company.

S Ramnath, an analyst with SSKI Securities believes that the deal is what would have taken Mahindra & Mahindra about five years. Moreover, the analyst pointed out the fact that the deal is triggered less for technology.

There is no denying to the fact that SsangYong is neck deep in debt — $640 million long-term paper as on December 31, 2009, but the company still believes that the situation has not gone out of hand. It is to be mentioned here that while the price of the deal is not disclosed but Mahindra & Mahindra has cash reserves of Rs 2,500 crore on its books and its debt is less than a third of its equity capital.