Titan Company Limited competed the acquisition of 0.35% stake in CaratLane Trading Private Limited from individual shareholders for approximately INR 610 million.
Titan Company Limited (BSE:500114) agreed to acquire remaining 0.36% stake in CaratLane Trading Private Limited from individual shareholders for approximately INR 600 million on February 27, 2024. The consideration consists of INR 600.8 million in cash. As part of the consideration, INR 600.8 million was paid towards common equity. Prior to the transaction, Titan Company Limited (BSE:500114) held 99.64%. The transaction is subject to fulfilment of other closing conditions and is expected to complete on March 31, 2024.
Titan Company Limited (BSE:500114) competed the acquisition of 0.35% stake in CaratLane Trading Private Limited from individual shareholders for approximately INR 610 million on July 18, 2024.
Titan Company Limited specializes in the design, manufacture and marketing of watches, jewellery, eyewear and fashion accessories. Net sales break down by product family as follows:
- jewellery items (88.5%): gold jewellery decorated with diamonds and precious stones, pure gold and platinum jewellery (Tanishq, Zoya, Mia, Carat Lane and Gold Plus brands);
- watches (7.3%): sold under own brands (Titan, Fastrack, Sonata, Favre Leuba, Xylys and Nebula), and under license brands (Tommy Hilfiger, Police, FCUK, Annie Klein, Kenneth Cole and Esprit);
- eyewear (1.7%): eyeglasses, sunglasses, frames, lenses and contact lenses (Titan Eye Plus, Titan, Fastrack and Glares brands).
The balance of net sales (2.5%) concerns the distribution activities of perfumes (Skinn by Titan brand), saris (Taneira Sarees brand) and fashion accessories, as well as the manufacture of precision engineering products and industrial machinery.
Products are marketed through a network of 1,909 exclusive stores located in India, over 7,000 multi-brand outlets and via the Internet.
At the end of March 2021, the group had 11 production sites in India.
India accounts for 99.5% of net sales.
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Titan Company Limited competed the acquisition of 0.35% stake in CaratLane Trading Private Limited from individual shareholders for approximately INR 610 million.
