M&M to increase stake in cab service Meru to 100%; True North, others exit
M&M to increase stake in cab service Meru to 100%; True North, others exit Meru screenshot May 3, 2021 Mahindra and Mahindra Ltd (M&M) said that it has agreed to buy the shares it didn’t already own in Meru Travel Solutions Pvt. Ltd (Meru) from existing shareholders. This would take M&M’s stake in Meru to 100% from 43.2%. M&M will acquire 44.14% shares from private equity investor True North and others for an amount of ₹76.03 crore and 12.66% shares from founder Neeraj Gupta and promoter Farhat Gupta, for ₹21.63 crore. Neeraj Gupta, chief executive officer of Meru and its unit Meru ...
Source: dealstreetasia.com