M&M, Investors Extend Investment Timeline In Classic Legends

Mahindra & Mahindra Ltd., along with existing shareholders and new investors of its subsidiary Classic Legends Pvt. Ltd., has invested ₹3.50 billion out of the proposed ₹8.75 billion in the company. The remaining ₹5.25 billion will be invested by March 15, 2027, following a mutual agreement to extend the deadline, M&M said in an exchange filing late Wednesday.

In 2023, M&M and other investors had committed to invest ₹8.75 billion in Classic Legends by March 15 this year. M&M was to contribute ₹5.25 billion, while the remaining ₹3.50 billion was to come from other shareholders and new investors.

Post this investment, M&M will continue to hold a 60% stake in the company.