Tata Group owned Titan Co to pay $560 million to raise stake in CaratLane
India’s Tata Group-owned Titan Co will acquire an additional 27.18% of equity shares in its subsidiary CaratLane Trading Pvt Ltd for 46.21 billion rupees ($555.81 million), it said in an exchange statement on Saturday.
Titan has entered into a share purchase agreement to acquire all of the 91,90,327 equity shares held by the founder of CaratLane Trading Private Limited and his family members, representing 27.18% of the total paid-up equity share capital of CaratLane on a fully diluted basis, the release said.
($1 = 83.1400 Indian rupees)
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First Published: Aug 19 2023 | 2:03 PM IST