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Titan to acquire remaining 27% stake in Caratlane for ₹4,621 cr
The Morning Standard
|August 20, 2023
TATA GROUP company Titan on Saturday announced that it has signed a share purchase agreement with the founder of CaratLane Trading Private Limited to acquire all the shares held by them.
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Titan will acquire the entire 91,90,327 equities held by the founder and his family members of the jewellery brand, representing 27.18% of the equity for ₹4,621 crore.
This marks the exit of CaratLane founder and managing director Mithun Sacheti from the company, which started as an online-first premium jewellery retail brand in 2008. Titan first invested in CaratLane in 2016 and over the past eight years, it continued to invest in the startup and the brand.
This story is from the August 20, 2023 edition of The Morning Standard.
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