Mahindra, external investors to infuse Rs 875 crore in Classic Legends
On a standalone basis, CLPL had reported revenue from operations at Rs 709.74 crore for the financial year ended March 31, 2023.
Mahindra & Mahindra (M&M) on Wednesday said it along with external investors, will invest Rs 875 crore in unit Classic Legends Pvt Ltd (CLPL). CLPL owns brands like Jawa, Yezdi and BSA, and operates in the fast-growing premium motorcycle segment in India.
"External investors, along with M&M will invest Rs 875 crore, investors Rs 350 crore and M&M Rs 525 crore, over the next 2-3 years, to build a strong business," the Mumbai-based auto major said in a regulatory filing.
Post the aforesaid investment, M&M would continue to hold 60 per cent of the paid-up equity share capital of CLPL, it added. On a standalone basis, CLPL had reported revenue from operations at Rs 709.74 crore for the financial year ended March 31, 2023.
It had brought back the Jawa motorcycle brand in the domestic market in 2018 and Yezdi last year. M&M shares were trading 2.02 per cent up at Rs 1,667.15 apiece on the BSE.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
Traders' Diary: Buy, sell or hold strategy on BEL, L&T, Asian Paints, TVS Motor, KEC International, over a dozen other stocks today
GT vs CSK IPL 2024 Ticket Booking Online: Where and how to buy GT vs CSK tickets online - Check IPL Match 59 ticket price, other details
03:50 PM IST