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Firms/companies > M > Mahindra & Mahindra Mahindra acquires all of Meru Cabs with fresh investment of Rs98 crore 03 May 2021 Mahindra & Mahindra has acquired the remaining 56.80 per cent shares in Meru Travel Solutions Limited (Meru Cabs), with a fresh investment of Rs98 crore, to take full control of the shared mobility business as the automotive major expands into new markets and finds new markets for its vehicles. Mahindra acquired 44.14 per cent shares in Meru Cabs owned by private equity investor True North and others for Rs76.03 crore and 12.66 per cent shares from Neeraj Gupta and Farh...

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 ...

linkedin In continuation of its strategic intent to grow its presence in the shared mobility space, Mahindra & Mahindra has entered into definitive agreements with shareholders of Meru Travel Solutions (Meru) to buy their respective stakes   M&M is to acquire 44.14% shares from private equity investor, True North and others for an amount not exceeding Rs 76.03 crore and 12.66% shares from Neeraj Gupta and Mrs. Farhat Gupta, for Rs 21.63 crore.     Set up in 2006, Meru Cabs revolutionised the way people travelled in cabs by offering AC cabs at their doorstep with a si...

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...