After the news of M&M buying a stake in the electric car maker Reva got settled, the speculations of the Founder group aiming to sell the company has again made news but this time to an international investor. It is believed that both the founder and as well as the investors are looking at selling their stake in return of the high growth.

Though, the identity of the buyer hasn't been finalised so far but the experts are valuing the company close to $100 million. It may be noted here that the electric car maker is promoted by the Maini Group and is backed by venture funds, namely Global Environment Fund (GEF) and Draper Fisher Jurvetson (DFJ) that holds close to 47% stake by investing around $10 million.

Though, Chetan Maini, deputy chairman, Reva Electric did not respond to the queries but he earlier said to a media house that the company is constantly evaluating opportunities that will allow it to scale, innovate and provide the best offerings to the customers. Notably, Reva is working on a plan with GM to develop an electric Spark by the end of this year.