Mahindra Logistics goes 'Meru'

about 19 days ago
No Image

Mahindra Logistics is in news today. The company, one of India's largest ThirdParty Logistics solution providers, has announced its acquisition of Meru Mobility Tech (MMTTPL), V-Link Fleet Solutions (VASPL) and V-Link Automotive Services (VFSPL) from Meru Travel Solutions Private Limited (MTSPL) and MTSPL from Mahindra & Mahindra Limited (M&M).

MTSPL is a holding entity and through its 3 wholly owned subsidiaries viz. MMTPL, VASPL, VFSPL, operates in ride hail segment and also in corporate transportation solutions space. MTSPL, MMTPL, VASPL and VFSPL are collectively referred to as Meru Companies. These three plus MTSPL were acquired at a total price of Rs.89 crore.

With this acquisition, the Company will enhance its range of mobility solutions with strategic focus on enterprise customers and electric mobility.

Post-acquisition, all the four Meru Companies would become wholly owned subsidiaries of the company and would continue to remain subsidiaries of M&M.

The market has given a muted reaction to this, with the stock opening around 1% higher at Rs.659.90 and going up almost 3.5% to an intraday high at Rs.677.65. Its 20% UC is at Rs.787.65 and 52-week high at Rs.819.15.

Popular Comments

No comment posted for this article.