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Mahindra & Mahindra completes 100% acquisition of Meru Cabs

Shortpedia

Content Team
Image Credit: shortpedia

Indian multinational automotive manufacturer Mahindra & Mahindra has increased its equity shareholding in its subsidiary, the cab aggregator Meru Cabs, from 43.2% to 100%, the company announced in a filing with stock exchanges on April 30. Mahindra had acquired a 55% stake in Meru for INR 201.5 Cr in August 2019, which would be completed over several tranches.