Watch and jewellery retailer Titan Company has increased its stake in jewellery retailer CaratLane to 69.47% for Rs 99.99 crore, the company said.
CaratLane has offered shares through private placement on preferential allotment basis to meet the general corporate purposes and for augmenting long-term resource requirement for its business activities
Carat Lane Trading Private Limited was incorporated on 20th September, 2007. It is involved in the business of designing, manufacturing, trading and retailing of gems and jewellery in India, through its ecommerce portal as well as physical stores.
Titan Company Limited (Titan), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced its operations in 1984 under the name Titan Watches Limited. Titan is the fifth largest integrated own brand watch manufacturer in the world.