Titan Company’s shares were up 0.41 per cent after the company made a move to acquire the entire stake of 91,90,327 equity shares, equivalent to 27.18 per cent of the total paid-up equity share capital of CaratLane Trading Pvt Ltd
CaratLane is currently a subsidiary of Titan, and upon the successful completion of this share purchase agreement, Titan’s shareholding in CaratLane is set to increase substantially from 71.09 per cent to 98.28 per cent on a fully diluted basis.
The shares were up by 0.41 per cent at Rs 3,061 at 11.32 am on the BSE.