Classic Legends may hit the IPO route in FY27, co to focus on ramping up volumes
Mahindra & Mahindra-backed motorcycle maker Classic Legends is planning an initial public offering (IPO) in the financial year starting April 1, 2026, cofounder Anupam Thareja said. The company manufactures and markets the Jawa, Yezdi and BSA motorcycle brands in India and overseas in the price range of ₹170,000 to ₹300,000. Classic Legends had acquired these iconic brands and successfully revived them.
«This is the company that should have an IPO. It will be the most valuable one in its segment. Next year will be our first full year with all the new launches. Coupled with that the global expansion underway will also help. The year after next will also be crucial. In two years, we will have the company ready,» Thareja told ET on the sidelines of the launch of the 350 Jawa 42 FJ model with prices starting at ₹199,000.
The company's motorcycles are positioned in the fast-growing middleweight (250cc to 350cc) segment where Royal Enfield is the market leader. Classic Legends retailed 2,131 units in July compared to Royal Enfield's 57,325 units, according to the Federation of Automobile Dealers Associations (Fada).
«We may fall, we may slip, but we'll rise, and we will keep on running. We are running a marathon, and we hope that all of you will stay the distance with us, and cheer us on,» Anand Mahindra, chairman, Mahindra Group said at the launch.
While M&M owns 60% of Classic Legends, Phi Capital (a private equity firm founded by Thareja) and Boman Irani, a real estate developer, hold the rest.
The 350 Jawa 42 FJ
