Luxury fashion accessory company Titan announced that it would be purchasing 0.36 percent stake held by individual shareholders in jewellery brand CaratLane. This is for an amount of Rs 60.08 crore.
Upon the completion of the transaction, CaratLane would become a wholly-owned subsidiary of Titan. At present, Titan owns 99.64 percent of total equity share capital of the jewellery brand, highlighted by Moneycontrol.
In August 2023, Titan had increased its stake to 98.28 percent in CaratLane, through the additional acquisition of 27.18 percent share for an amount of Rs 4,621 crore.