A subsidiary of Titan, CaratLane is an unlisted personal firm engaged within the manufacture and sale of jewelry gadgets.
Titan Company Ltd. mentioned it had signed a share buy settlement with the founding father of CaratLane Trading Private Ltd. and his relations to acquire all of the shares held by them, representing 27.18% of the entire paid-up fairness share capital (on a totally diluted foundation) of CaratLane, for a complete consideration of ₹4,621 crore.
A subsidiary of Titan, CaratLane is an unlisted personal firm engaged within the manufacture and sale of jewelry gadgets.
Subsequent to the transaction, Titan would maintain an mixture of 98.28% of the fairness share capital and voting rights (on a totally diluted foundation) in CaratLane. The transaction can be financed by way of a mix of money balances, inside accruals and debt. Titan’s jewelry section model structure embrace Tanishq, Mia, Zoya and CaratLane
C. Ok. Venkataraman, Managing Director, Titan in an announcement mentioned, “We believe that the growth journey of CaratLane has only begun and has a long way to go.”
Mithun Sacheti, Founder and Managing Director, CaratLane, mentioned “Having dreamt of making beautiful jewellery accessible and affordable to all, I am immensely proud of what we have collectively achieved at CaratLane in the past 15 years and where the business stands today. Looking into the future, there couldn’t be a more ideal destination for CaratLane than Titan and the esteemed Tata Group who will provide the perfect opportunities for CaratLane to continue to grow from strength to strength.”
