CaratLane receives the largest exit deal following Flipkart | Titan-CaratLane Deal | Business News

Titan, Tata Group's watch and jewellery retailing arm, stated last week that it is also purchasing Mithun Sacheti's remaining 27.18% interest in CaratLane for Rs 4,621 crore, bringing Titan's stake in CaratLane to 98.28%.

The transaction to be finalised in two and a half months

Titan currently controls 71.09 percent of Caratlane. Titan's stake in Caratlane will rise to 98.28% after purchasing more than 21% of the company. Titan anticipates that the transaction will be completed by October 31, 2023, and that all regulatory clearances, including that of the Competition Commission of India, will be secured prior to that date. Caratlane's stock value is estimated to be around Rs 24,500 crore in this transaction. Earlier in June, it was reported that the Tata group was considering purchasing the remaining interest in Caratlane through Titan. 

Caratlet is a jewellery firm that was established in September 2007. This company's operations extend beyond India to include the United States. The company is in the business of making and marketing jewels. Caratlane's revenue in fiscal year 2022-23 was Rs 2,177 crore.