Shardul Amarchand Mangaldas advises Titan Company Limited on the acquisition of the remaining 27.5% founders stake in Caratlane Trading Pvt Ltd.

August 24, 2023

Shardul Amarchand Mangaldas advised Titan Company Limited (“Titan”) on the proposed acquisition of remaining 27.5% founders stake in Caratlane Trading Pvt. Ltd. This represents one of the largest e-commerce transactions in India.

The deal was valued at Rs. 17,000 crore in equity, with a purchase consideration of approximately Rs 4,600 crore. The share purchase agreement was executed on 19 August 2023 and will close after receipt of necessary approvals.

The transaction team was led by Manav Nagaraj, Partner, Mithila Hari, Senior Associate. The competition law team was led by Shweta Shroff Chopra, Partner; Manika Brar, Partner; Pranav Satyam, Special Advisor; Devahuti Pathak, Associate; Arjav Kulshreshtha, Associate. Nikhil Naredi, Partner and Deepika Goyal, Principal Associate advised on LODR and other compliances applicable to a listed company.

Ramanathan & Vahanvati – (Essaji Vahanvati and Siddharth Prasad) and Axiom5 Law Chambers (Samir Gandhi and Rahul Rai) advised the sellers.