Titan Company, which currently holds 99.64% of total equity share capital in Caratlane, has announced that by the end of March, it would acquire the remaining 0.36% stake in Caratlane for Rs 60.08 crores.
With the acquisition of the balance stakes, Caratlane will become a wholly-owned subsidiary of Titan Company.
In its regulatory filing, the company mentioned that it has “executed relevant documents” to purchase a balance of 1,19,489 equity shares held by the individual shareholders, “representing 0.36 percent of the total paid-up equity share capital of face value of Rs 2 each”.
