Mahindra to acquire 100% stake in Meru

Mahindra will enhance its current shareholding in Meru from 43.20% to 100%. Pravin Shah will be the CEO of Meru with effect from May 1, 2021.
Mahindra has announced that it has entered into agreements with shareholders of Meru Travel Solutions Private Limited (Meru) to buy their respective stakes in the ride-sharing company.
Mahindra will acquire 44.14% shares from Private Equity investor, True North and others for an amount not exceeding Rs. 76.03 crores. It will acquire 12.66% shares from Mr Neeraj Gupta and Mrs Farhat Gupta for an amount not exceeding Rs. 21.63 crores. With this arrangement, Mahindra will enhance its current shareholding in Meru from 43.20% to 100%.

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