Titan to conclude Caratlane acquisition in a month

KOLKATA: Titan Company today said the all-cash acquisition of online jewellery portal Caratlane would be concluded within a month's time.

"Currently, valuation exercise is on. We hope to conclude the transaction in a month's time. It will be an all-cash deal," Titan Managing Director Bhaskar Bhat told PTI.

He said after negotiations the company would finalise the stake.

"We will hold in excess of 51 per cent, but exact stake will be finalised later," he said.

Declining to share details of future plans, Bhat said, "We will share details of our future plans on Caratlane after the acquisition is complete."

Carat Lane Trading, owner of online jeweller Caratlane, had raised Rs 185 crore from US hedge fund Tiger Global, in 2015.

Caratlane operates in an omni-channel approach with 13 offline stores in Bengaluru, Delhi-NCR, Hyderabad, Coimbatore, Chandigarh, Chennai, Thane and Pune.