The Competition Commission of India (CCI) has approved acquisition of additional shareholding in CaratLane Trading Private Limited (CaratLane) by Titan Company Limited (Titan). The proposed combination relates to the acquisition by Titan of 27.18% share capital of CaratLane (a subsidiary of Titan).
On a fully diluted basis, from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti. Titan, a public listed company, is active in several business through lifestyle brands including, jewellery, eyecare, fragrances, fashion accessories, and Indian dress wear.
CaratLane is a private limited company engaged in the business of manufacture and sale of gems and jewellery in India. Detailed order of the CCI will follow.
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At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
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