Titan plans to take on partial debt to fund Caratlane's acquisition

The company also expects regulatory approvals in the next two months

Jewellery maker Titan is planning to take on partial debt to fund the acquisition of a 27.18 per cent stake in its subsidiary, Caratlane shares.

The company plans to fund more than 50 per cent of the acquisition by debt. On Saturday, Titan announced that it signed a share purchase agreement with the founder of CaratLane Trading (‘CaratLane’) and his family members to acquire all the shares held by them representing 27.18 per cent of the total paid-up equity share capital (on a fully diluted basis) of CaratLane for a total consideration of Rs 4,621 crore. 

“Titan will take some debt to