Wednesday, October 22, 2025
spot_img

Mahindra Group fully acquires Meru Cabs, Pravin Shah appointed as CEO

spot_img
- Advertisement -

Mahindra Group fully acquires Meru Cabs, Pravin Shah appointed as CEO

Mahindra and Mahindra on Friday said it has inked a pact with shareholders of Meru to increase its stake to 100 per cent in the ride-hailing service provider.

The auto major said in continuation of its strategic intent to grow its presence in the shared mobility space, the company has entered into definitive agreements with shareholders of Meru Travel Solutions Pvt Ltd (Meru) to buy their respective stakes in the ride-hailing services provider.

M&M will acquire 44.14 per cent shares from private equity investor True North and others for an amount not exceeding Rs 76.03 crore and 12.66 per cent shares from Neeraj Gupta and Farhat Gupta, for an amount not exceeding Rs 21.63 crore, it added.

With this arrangement, M&M will enhance its current shareholding in Meru from 43.20 per cent to 100 per cent.

“At the outset, I would like to thank Neeraj Gupta and the team at Meru for building a pioneering brand in the shared mobility space in India. Our association with Meru is built on our compelling strategy to scale our shared mobility businesses,” Mahindra Group Managing Director and Chief Executive Officer (CEO) Anish Shah said.

With M&M taking over, Neeraj Gupta, founder CEO and Whole Time Director of Meru and its subsidiary company Meru Mobility Tech Pvt Ltd and Director of two other Meru subsidiaries – V-Link Automotive Services Pvt Ltd and V-Link Fleet Solutions Pvt Ltd will be stepping down effective close of business hours of April 30, 2021.

He will continue as an employee until June 30, 2021.

Pravin Shah, who was earlier President Automotive, M&M till March 2017 will be the CEO of Meru and its subsidiary companies, with effect from May 1, 2021, the auto major noted.

Meru Cabs, a ridesharing company founded in 2006 revolutionised the way people traveled in cabs by offering AC cabs at their doorstep with a single call.

Currently, it has a significant presence in the airport transfer business, operating in the ride-hail segment and providing employee transportation services to corporates in India. With PTI Inputs

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

TCS iON offers a 15-day free digital certification program

TCS iON, the strategic unit of India’s biggest IT company Tata...

5 Ways DBS Sets Standard for Anti-Fraud Leadership in Singapore

Scam-related crimes have steadily increased in Singapore in recent...

EY in India is hiring for various roles, internships & freshers jobs

A multinational professional services company, Ernst & Young (EY)...

Infosys to hire an additional 500 tech employees in Rhode

Infosys plans to hire additional 500 tech employees in...

KPMG US Responds to Trump Policies by Removing DEI Initiatives

KPMG US has announced the removal of its Diversity,...

Deutsche Bank Restructures Retail Division with 2,000 Job Cuts

Deutsche Bank, Germany's largest financial institution, has announced plans...

Astral Limited appoints Siddharth Jain as Head Talent Acquisition

An Indian building materials and equipment company, Astral Limited...

Embracing vulnerability, fostering cultural transformation top-down

Leadership Vulnerability: Transforming Organizational Culture from the Top Down  Organizational...

Related Articles

SightsIn Plus
SightsIn Plushttps://sightsinplus.com/
SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/