The Competition Commission of India has approved the acquisition of additional 27.18 per cent share capital of Caratlane Trading Private Limited by Titan Company Limited.
National
The Competition Commission of India (CCI) has approved the acquisition of additional shareholding in Caratlane Trading Private Limited (Caratlane) by Titan Company Limited (Titan). With this CCI approval, Titan will be able to acquire 27.18 per cent share capital of Caratlane (a subsidiary) on a fully diluted basis from Mithun Padam Sacheti, Siddharth Padam Sacheti and Padmchand Sacheti. Prior to this stake-purchase, Titan held 71.09 per cent of the total equity share capital of Caratlane on a fully diluted basis. With this transaction, CaratLane founder Mithun Sacheti and his family have sold their stake in the company. The latest transaction values CaratLane at Rs 17,000 crore. Titan Limited first invested in CaratLane in 2016, having been in a strategic vendor relationship with Tanishq since 2010. Later, Titan purchased Caratlane's shares in tranches, mainly through secondary purchase of shares. ​
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