Mahindra & Mahindra to Invest Rs. 525 Crores in Subsidiary Classic Legends Private Limited

Mahindra & Mahindra Ltd. (M&M) has completed the execution of a Securities Subscription Agreement and Amended & Restated Shareholders’ Agreement with Classic Legends Private Limited (CLPL), a subsidiary of the company. M&M has agreed to invest Rs. 525 crores in CLPL by way of subscription to Compulsorily Convertible Preference Shares (CCPS) and Equity Shares. CLPL is mainly engaged in design, development, sales & marketing of two wheelers, spares, accessories & related activities. It has revived classic motorcycle brands and has launched motorcycles such as Jawa, Yezdi and BSA. The proposed investment in CLPL by the Company and certain existing shareholders of CLPL falls within the ambit of related party transactions and would be done at arm’s length basis. The investment is expected to be completed by 15th March, 2027.