Mahindra Logistics, the third-party logistics business of the Mahindra Group, acquired shared-mobility brand Meru Travel Solutions (MTSPL) and its subsidiaries in a Rs 50.5-crore deal. “MTSPL is the holding entity and through its subsidiaries operates in (the) ride-hail segment and corporate transportation solutions space,” Mahindra Logistics informed stock exchanges on November 9. https://theprofessionaltimes.com/2023/04/18/mahindra-logistics-targets-growth-in-enterprise-mobility/
On the face of it, Mahindra Logistics, which generated Rs 3,263.7 crore in revenue in fiscal year (FY) 2021, has bought out Meru, which clocked revenue of Rs 44.3 crore in FY 2021.
