Mahindra reposes faith in Classic Legends. Infuses fresh capital.

Classic Legends Private Limited (CLPL) is a subsidiary of Mahindra & Mahindra (M&M) incorporated in 2015 to revive classic motorcycle brands such as Jawa, Yezdi and BSA.

M&M currently owns 60% of CLPL.

CLPL is now raising fresh capital of Rs 875 cr to fund growth.

  • M&M has decided to continue hold on to it’s 60% and hence has agreed to contribute it’s proportionate share of Rs 525 cr.
  • Investment is through the CCPS route
  • Balance funds would be contributed by the other existing investors of CLPL and the new external investors
  • Revenue track of CLPL
    • FY23: Rs. 709.74 Crore
    • FY22: Rs. 594.99 Crore
    • FY21: Rs. 439.46 Crore

There was a lot of euphoria when CLPL was incorporated. Jawa and Yezdi were classics and were expected to do very well. However, actual demand has fallen way short due to the questionable quality of the motorcycles as well as continued stiff competition.

Irrespective, these continue to be strong brands and hopefully would do much better in future.

From M&M perspective, these are small negligible amounts and hence nothing to get excited or worried about.

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