The Competition Commission of India (CCI) has approved acquisition of additional shareholding in CaratLane Trading Private Limited (CaratLane) by Titan Company Limited (Titan), today.

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 Mr. Mithun Padam Sacheti, Mr. Siddhartha Padam Sacheti, and Mr. 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.

Competition clearance granted for intra-group acquisition of additional shareholding in a jewellery retailer, subject to detailed order. The Competition Commission of India has granted approval for Titan Company Limited to acquire an additional minority stake in CaratLane Trading Private Limited by purchasing incremental shareholding on a fully diluted basis from three individual shareholders; CaratLane is a private company engaged in manufacture and sale of gems and jewellery and Titan is a publicly listed lifestyle conglomerate. A detailed CCI order will follow.