Titan acquires 62 per cent stake in Carat Lane for Rs 357.24 crore

Tata Group’s Titan Co Ltd will acquire a 62 per cent stake in online jewellery retailer Carat Lane for Rs 357.24 crore. A share purchase agreement has already been signed. The number of shares to be acquired is 1,91,42,545 representing 62 per cent of Carat Lane’s share capital. Titan has decided to go ahead with this acquisition because the company believes the synergies with jewellery business of Titan is high.