Meru Cabs in stake sale talks with Japan's Orix Auto
Synopsis Meru Mobility, in which Mahindra has a 55% stake, also has plans to raise Rs 350-400 crore from a clutch of strategic investors. Mahindra Group has previously said that it would look at an initial public offering (IPO) for its mobility unit, of which Meru is a part, to unlock value. Mahindra Group-backed ride hailing service Meru Mobility is in advanced talks with Japanese car leasing firm Orix Auto Infrastructure Services for a possible stake sale, two people aware of the development said. Meru, in which Mahindra & Mahindra acquired 55% stake in September 2019 for about Rs 103 cror...
Source: indiatimes.com