Acquisition of Shares in Caratlane by Titan

  • Approved by the Competition Commission of India (CCI).
  • Deals with additional shareholding in CaratLane Trading Private Limited (CaratLane) by Titan Company Limited (Titan).
  • It involves 27.18% share capital of CaratLane (a subsidiary of Titan), on a fully diluted basis, from Mr Mithun Padam Sacheti, Mr Siddhartha Padam Sacheti, and Mr Padamchand Sacheti.

Titan:

  • It is a Public-listed company.
  • It owns among others lifestyle brands including, jewellery, eye care, fragrances, fashion accessories, and Indian dress wear.

CaratLane:

  • It is a private limited company.
  • It is involved in the manufacturing and sale of gems and jewellery in India.
Posted in Current Affairs.