Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has acquired 60% stake in Classic Legends (CLPL) on October 18, 2016. The company has subscribed to and has been allotted 60, 00,000 equity shares of Rs 10 each of CLPL constituting 60% of its post-issue capital, on preferential basis.

The acquisition is to enable CLPL directly or indirectly, manufacture, market, sell, distribute two-wheelers globally by directly or indirectly acquiring/obtaining license of brands.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.