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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 crore, had
planned to raise Rs 350-Rs 400 crore and was in talks with a clutch of strategic investors over the last six to nine months.
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