TITAN RAISES CARATLANE STAKE TO 98.28% WITH RS 4,621 CR INVESTMENT

Jewellery manufacturer Titan announced that it was raising its interest in its subsidiary and contemporary jewellery brand CaratLane

- 

Titan, a manufacturer of jewelry, revealed on Saturday that it has increased its ownership position in CaratLane, a subsidiary and new-age jewelry brand, to 98.28% by purchasing an additional 27.18% share for Rs 4,621 crore. According to a joint statement, the Tata group managed company has entered into a share purchase agreement with Mithun Sacheti and Srinivasa Gopalan, the founders of CaratLane, and their family members to purchase all of the shares they own, totaling 27.18% of the company, bringing its overall stake to 98.28%.”CaratLane is a subsidiary of the company and upon completion of the aforesaid share purchase would result in an increase in shareholding of the company in CaratLane from 71.09 per cent to 98.28 per cent on a fully diluted basis,”.