M&M, investors to infuse Rs 875 cr in Classic Legends

PTI

Updated At : 01:06 PM Dec 14, 2023 IST

Unlock Exclusive Insights with The Tribune Premium

Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits

Yearly Premium ₹999 ₹349/Year

Yearly Premium $49 $24.99/Year

New Delhi, December 13

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% 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.

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by : SORTD

Unlock Exclusive Insights with The Tribune Premium

Suggested Articles