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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 ...

From 43.20% to 100%Mahindra & Mahindra announced that it has entered into definitive agreements with shareholders of Meru Travel Solutions (Meru) to buy their respective stakes in Meru. It would acquire 44.14% shares from Private Equity investor, True North and others for an amount not exceeding Rs. 76.03 crores and 12.66% shares from Neeraj Gupta and Farhat Gupta, for an amount not exceeding Rs. 21.63 crore. With this arrangement, M&M will enhance its current shareholding in Meru from 43.20% to 100%. Neeraj Gupta, founder CEO and Whole Time Director of Meru and its subsidiary company Meru M...

Share this article Share this article NEW YORK, March 4, 2021 /PRNewswire/ -- Opting for shared mobility is way more cost-effective than buying an automobile and then maintaining it throughout its lifetime. This is why the Indian shared mobility market will witness a massive 56.8% CAGR between 2020 and 2025. At this rate, the revenue generated from the provision of such services across the country is expected to increase from $1,025.8 million in 2019 to $3,952.8 million by 2025, according to P&S Intelligence. Key Findings of India Shared Mobility Market Ride-hailing services remain ever popu...