CCI approves Titan’s Rs 4,621 crore stake purchase in CaratLane

The Competition Commission of India (CCI) has approved the acquisition of a 27.18% stake in omnichannel jewellery retailer CaratLane by Tata Group company Titan.

In August, Titan had announced that it was buying the stake from CaratLane founder Mithun Sacheti and his family for Rs 4,621 crore in cash.

Titan had first bought a 62% stake in CaratLane in 2016 at a valuation of about Rs 563 crore. Between 2016 and 2019, it bought shares of the omnichannel retailer in tranches, spending a total of Rs 440-450 crore, mainly through secondary purchase of shares from Tiger Global, the only venture investor in CaratLane.


“Commission approves acquisition of additional 27.18% share capital of CaratLane Trading Private Limited by Titan Company Limited,” the CCI said in a post on X.

The transaction marked the second-largest exit for an ecommerce founder in India after Flipkart founders Sachin and Binny Bansal sold their stakes in the company to Walmart.