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Meru Cab Latest News

Mahindra & Mahindra will acquire a 55 per cent stake in radio taxi firm Meru Cabs, the company has announced in an exchange filing. The Indian auto giant will be making a primary investment of Rs. 103.5 crore by a fresh issue of shares in the company, in tranches. The final purchase price will be arrived at after making customary closing adjustments, the filing said. With Mahindra's investment, Meru's currnet largest shareholder - private equity firm True North, will have a lesser stake in Meru, down from 80 per cent to 35 per cent. In addition to Meru, the company's subsidiaries - Meru Mobility Tech Private Limited, V-Link Automotive Services Private Limited and V-Link Fleet Solutions Private Limited, will now be a part of the Mahindra Group.

Mahindra Acquires 55 Per Cent Stake In Ride-Hailing Firm Meru Cabs

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