Tube lnvestments of lndia Ltd. (TII) has entered into an agreement with Classic Legends Pvt. Ltd. (CLPL) to incorporate a joint venture company (JVC) for licensing BSA trademarks.
TII, CLPL and the proposed JVC will enter into a trademark licensing arrangement to enable the use of BSA trademark by CLPL for the manufacture and sale of motorcycles, parts and accessories in lndia, according to a regulatory filing.
Initially, TII and CLPL would be investing ₹50,000 each and hold equal stake in the JVC. The board of JVC would have two directors each from these firms.
Post incorporation of the JVC, a master trademark licensing agreement would be executed between TII, CLPL and the proposed JVC.
TII is engaged in the business of manufacturing and marketing of goods such as bicycles and components thereof, fitness equipment, workouts range, car door frames, transmission and engine parts for four-wheeler and two-wheeler, automotive and industrial chains and precision steel tubes, strips through its various strategic business divisions.
In FY24, TII posted revenue from operations of ₹16,890 crore. It has a networth of ₹5,100 crore.
Classic Legends, a subsidiary of Mahindra & Mahindra, sells Jawa and Yezdi brand of motorcycles in the country.
