Mahindra & Mahindra acquires 55.2% stake in Reva Electric Vehicles Co.Ltd and the new name of the company will be Mahindra REVA Electric vehicle Company Ltd. The Maini family promoters of REVA will hold 31% stake in the new company.
M&M will be infusing Rs.45 crores as fresh equity in the company . M&M has acquired shares from the promoters, the valuation of which was not mentioned either by REVA or M&M.Dr.Pawan Goenka,will be the Chairman of the New company.
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