Titan Company Ltd.

Titan Company has received an approval for investment of $0.5 million in KaHa, a company registered in Singapore. The board of directors at its meeting held on November 7, 2017 has approved for the same. The investment will be considered only after receipt of approval of the Reserve Bank of India, application to whom is yet to be made. The amount of investment will not exceed Rs 3.5 crore and may constitute up to a maximum of 10% of equity capital of KaHa and therefore is a small equity stake.

Besides, the investment of $0.5 million represents a very small percentage of the size of operations of the Watches & Accessory Division and the company itself to which this would be a very minor investment for a business relationship.

Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.