The Company was originally incorporated as a Private Limited Company on 23.4.1973 under the name "Majestic Gears (P) Limited". It was manufacturing various bicycle components for M/S Hero Cycles Pvt. Ltd. It was promoted by Sh. Satyanand Munjal, Sh.Brijmohan Lall Munjal and Sh. Om Parkash Munjal of Hero Cycles Limited.

The Company, having Understood the requirement of Indian markets of two Wheeler Industry, Decided to go in for Producing of a Suitable moped in the year 1975. This
 
company converted to a Public Limited company on 2nd April,1977. The name of the company had been changed to M/s Majestic Auto limited and a fresh certificate of incorporation was obtained on 9th August,1977. In 1978, the company diversified into the manufacture of 49CC Mopeds under the brand name of “HERO MAJESTIC”. The Company has since then recorded a phenomenal growth, every year, in its production capacity. The Company became full-fledged Public limited Company on 29th October 1985.