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TITAN set to add Rs 2,500 crore Damas facet to portfolio
Titan Co is in advanced talks to pick up a 72% stake in Damas International, a prominent Gulf jewellery retailer, for an estimated Rs 2,500 crore, said people with knowledge of the matter.
The Tata group company has commenced due diligence, they said. The remaining 28% will continue to be held by Mannai Corp, which owns Damas International.
The price was arrived at after Damas is said to have sought Rs 3,000 crore from TITAN.
Both parties have reached a preliminary agreement, and the deal is likely to be finalised in the second quarter of FY26, said the people cited above.
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