As per the news reports, big utility vehicle maker, Mahindra & Mahindra along with three-wheel maker, Atul Auto are looking forward to buy stake in state-run Scooters India Ltd .

Both the companies are looking to have controlling stake in Scooters India and they want to do it separately.

95 per cent of the company is owned by the government and the rest is shared by the other bodies. The government had first opened 4.74 per cent for sale which was later raised up to 4.88 per cent.

Post the declaration, shares of Scooters India went up by 5 per cent. During the whole last year they had gone up by 37 per cent outperforming the Auto Index that went up by 20 per cent.

Scooters India is known to be the maker of once famous brands like Vijai Super and Lambretta. It stopped production in 1997 and is now into the business of making three-wheelers.

Analysts believe that out of the two, M&M is a better party in the race. It is a big company and the main attraction for it is the 150 acres of land which Scooters India has.