M&M buys 55% stake in Meru, infuses Rs 202 crore

Mahindra & Mahindra (M&M) has become the second-largest automaker to invest in a ride-sharing company as it acquires a 55% stake in Meru Travel Solutions by investing Rs 202 crore in phases. Hyundai and Kia had together invested in Ola earlier this year.Meru had a consolidated revenue of Rs 157 crore in FY19.

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