The Competition Commission of India (CCI) has granted approval for the additional acquisition of shareholding in CaratLane Trading Private Limited (CaratLane) by Titan Company Limited (Titan).
The proposed transaction involves Titan acquiring a 27.18% stake in CaratLane, a subsidiary of Titan, on a fully diluted basis. This acquisition will be made from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti.
Titan, a publicly listed company, operates in various business segments, including jewelry, eyecare, fragrances, fashion accessories, and Indian dress wear.
CaratLane, a private limited company, specializes in the manufacture and sale of gems and jewelry in India.
A detailed order from the CCI outlining the approval will be issued shortly, as stated in the release by the Competition Commission of India.
