Sunday, December 22

Tag: CaratLane

Titan increases stake in CaratLane
1Apr By Press Trust of IndiaNo Comments
BUSINESS

Titan increases stake in CaratLane

Tata group firm Titan has increased stake in its jewellery subsidiary CaratLane to 69.47 percent with an investment of Rs 99.99 crore. "In response to offer of shares made by Carat Lane Trading Private Limited, a subsidiary of the company, the company has subscribed to 30,48,780 additional equity shares of CaratLane thereby increasing its stake in CaratLane on March 30, 2019," Titan said in regulatory filing on Sunday. CaratLane is in the business of manufacturing and sale of precious and semi-precious jewellery through its e-commerce business and also through retail showrooms. "...the shareholding of the company in CaratLane has increased from 66.39 per cent to 69.47 percent," the company said. CaratLane registered a revenue of Rs 292.5 crore for the year ended March 2018. ...
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Rs 357 crore for 62% – Titan Will Pay to Caratlane For Acquisition
22Jul By NitishNo Comments
ACQUISITION

Rs 357 crore for 62% – Titan Will Pay to Caratlane For Acquisition

As per the filing report,  Jewellery-to-eyewear lifestyle company Titan Company Ltd also an entity of Tata's Group would pay Rs 357.34 crore to acquire a 62 percent stake in Chennai-based Carat Lane Trading Private Limited, the parent entity of the jewellery etailer CaratLane.com. In May, Titan Company acquired a majority stake in CaratLane.com. The Company is acquiring 19,142,545 shares in the parent entity. Caratlane raised over $50 million in funding from Tiger Global Management. Carat Lane Trading Private Limited, which is involved in designing, manufacturing, trading and retailing of gems and jewellery, clocked revenues of Rs 141 crore for the financial year 2015-16. Its revenues in the preceding two consecutive fiscals were Rs 127 crore and Rs 101 crore, respectively. Titan ...
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