Tata Sons, the holding company of the Tata Group, is planning to acquire 2.18% stake in Titan Company at an estimated price of over Rs 680 crore increasing its holding to 19.59 per cent from the current 17.40%.
Tata Sons will acquire the stake as part of restructuring its investment portfolio. The proposed date of acquisition is on or after August 11 and that the shares would be acquired at the prevailing price on the date of acquisition.
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.
