Titan Company through its wholly owned subsidiary -- Titan Holdings International FZCO (Titan Holdings) has entered into an Agreement to acquire 67% stake in Damas LLC (UAE) (Damas LLC), current holding company for Damas jewellery business in GCC countries (Damas Business) from Mannai Corporation (Mannai). The current Graff Monobrand Franchisee business of Damas LLC will be discontinued before completion of the Proposed Transaction.
The consideration for the proposed transaction is arrived on the basis of the enterprise value of United Arab Emirates Dirham 1,038 million. On completion of the acquisition, Titan Holdings would hold 67% of the equity share capital and voting rights in Damas LLC and a path to acquire the balance 33% stake from Mannai after December 31, 2029, subject to conditions agreed upon in the definitive document.
The completion of the Proposed Transaction would be subject to certain conditions precedent, customary closing adjustments and approvals from anti-trust and other regulatory authorities in certain jurisdictions as may be applicable and is expected to be financed through a combination of debt cash balances, and internal accruals.
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.
| Company Name | CMP |
|---|---|
| Titan Co | 4271.30 |
| Kalyan Jewell.India | 376.50 |
| Rajesh Exports | 80.90 |
| Senco Gold | 350.80 |
| Thangamayil Jeweller | 5579.20 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: