Bajaj Auto announces buyback at steep premium

Key points related to the buyback are – 4,00,000 equity shares, representing 1.41% of the total shares would be bought back at Rs 10,000/ share i.e, Rs 4,000 crore of total consideration (excluding the associated costs and fees). Company may later decide to increase the buyback price without increasing the total consideration amount of Rs … Read more

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 … Read more

TVS ties up for European distribution

TVS Motor has announced a strategic entry into Europe by signing an agreement for import and distribution with Emil Frey, a 100 year old leading name in automotive distribution in Europe. Emil Frey is among the largest automobile importers and retailers in Europe, serving many leading automotive brands across the region. The group has more … Read more

Bajaj Auto applies for new NBFC

Bajaj Auto (BAL) has sought RBI approval for setting up a new NBFC. The application is currently under consideration by the regulator. The proposed NBFC is for captive financing of Company’s two wheelers and three wheelers. Currently more than 40% of BAL’s vehicles get financed by Bajaj Finance (BFL, the group company), which in turn … Read more

Triumph’s Speed 400 and Scrambler 400 X unveiled, India-launch on July 5

Britain’s iconic motorcycle manufacturer, Triumph, has unveiled the first two Made-in-India, Triumph Speed 400 and Scrambler 400 X bikes. These bikes have been developed in a collaboration between the British Triumph and India’s Bajaj Auto. The bikes will be built at Bajaj’s Chakan facility in Maharashtra. The two bikes, Speed 400 and Scrambler 400X, appear … Read more

Hero MotoCorp needs to recover market share in 125cc bike segment: CFO

Hero MotoCorp on Wednesday said that the firm needs to recover its market share in the 125-cc engine motorcycle segment as it sees an opportunity in building a premium portfolio. Hero MotoCorp’s sales in the 111cc-126 cc motorcycle segment increased by 5.65 per cent year-on-year to 452,274 units in April-December of FY23, according to data … Read more

Hero finally launches VIDA Electric Scooter

After consistent delays over the last few months, Hero has kept up with the festival period launch of it’s much awaited VIDA Electric Scooter. The model is called VIDA V1 and is being offered in two variants – V1 Pro and V1 Plus. Top speed is 80 kmph, running range is indicated at 143 and … Read more