Titan Company Ltd.

Titan Company has signed a Share Purchase Agreement (SPA) with the Founder of CaratLane Trading (CaratLane) and his family members to acquire all the shares held by them representing 27.18% of the total paid-up equity share capital (on a fully diluted basis) of CaratLane for a total consideration of Rs 4,621 crore. 

CaratLane is a subsidiary of the company and on completion of the aforesaid share purchase, would result in an increase in shareholding of the company in CaratLane from 71.09% to 98.28% on a fully diluted basis. The indicative time period for completion of the acquisition would be October 31, 2023, subject to the timely receipt of requisite approvals.

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