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Mahindra & Mahindra acquires 55 pc stake in Meru Travel Solutions Pvt Ltd
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Mahindra & Mahindra acquires 55 pc stake in Meru Travel Solutions Pvt Ltd

Agency News

Mumbai, Sep 2 : Auto Major, Mahindra & Mahindra (M&M) said that company on August 31, 2019 has signed a Share Subscription and Shareholder Agreement for subscribing upto 55 pc of the Equity Share Capital of Meru Travel Solutions Private Limited (Meru) in tranches.

In terms of the said Agreement, after investment of the first tranche in Meru, the Company will have the right to appoint the majority of the Directors on the Board of Meru and as such will control the composition of the Board of Directors of Meru. Upon obtaining such right, Meru will become a subsidiary of the Company, and the following subsidiary companies of Meru, will in turn, also become subsidiaries of the Company such as Meru Mobility Tech Private Limited, V-Link Automotive Services Private Limited and V-Link Fleet Solutions Private Limited, a release said.

Meru Mobility Tech Private Limited a subsidiary of Meru, is engaged in the business of providing metered Radio Taxi Services in the cities of Mumbai, Delhi, Bangalore and Hyderabad since April 2007 under the brand name of "MERU". Meru Mobility Tech is based in Mumbai and is one of the pioneer companies to launch metered "Radio Cabs" in India.

V-Link Automotive Services Private Limited, is engaged in the business of providing Radio Taxi Services and Tourist Cab Services in various cities of India. V-Link Automotive provides the services under the brand of "MERU" and operates a large fleet across India supported by a 24x7 call center and advanced GPS, GPRS based cab dispatching service, quick and easy cab bookings through its website and mobile application.

V-Link Fleet Solutions Private Limited is engaged in the business of providing end-to-end transportation solutions to leading companies in various sectors such as BPOs, KPOs, Banking, IT, ITES, Media & TV companies, Airlines Industry, Financial Services, etc. V-Link Fleet provides the aforesaid services with a large fleet of mostly outsourced vehicles in several cities managed from business offices located at Mumbai, Delhi, Bangalore, Hyderabad, Pune, Chennai, Kolkata and Gurgaon. VLink Fleet is also equipped with a dedicated 24X7 contact center for any real time information on the operations. (UNI)