Tata Group-owned Titan Company acquires 27.18% stake in CaratLane for Rs 4,621 crore

Tata Group-owned Titan Company has acquired 27.18% stake in CaratLane for Rs 4,621 crore.

The acquisition gives Titan 98.28% of the equity share capital and voting rights in CaratLane.

CaratLane is a jewellery manufacturing and retail company founded in 2008

The acquisition will be financed through a combination of cash balances, internal accruals and debt

The founder of CaratLane, Mithun Sacheti, has expressed pride in what has been achieved in the past 15 years

The Tata Group will provide the perfect opportunities for CaratLane to continue to grow

Titan Company is a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation