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Titan Bought 27% Stake in CaratLane: Here's the Deal Detail

by Financegossips

Titan, a Tata Group company, has acquired the remaining 27.18% stake in its jewellery arm CaratLane for Rs 4,621 crore in cash.

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The transaction will give Titan a 98.28% ownership in CaratLane.

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The deal is subject to customary regulatory approvals and closing transactions.

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It is expected to be financed through cash balances, internal accruals and debt.

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The indicative time frame for completing the acquisition process is October 31st.

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Titan has always built solid brands among this category’s leaders.

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CaratLane’s founders believe the journey has just begun, and there is a long way to go.

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CaratLane started its journey as a purely online brand in 2008.

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Titan first invested in the brand in 2016 and has partnered with Tanishq over the past eight years.

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For FY 2022- 2023, the turnover of Carat Lane was 2,177 crores.

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