Titan’s ₹2,400 Cr Damas Deal

is making a strong international move by acquiring a 67% stake in UAE-based Damas LLC for AED 1.04 billion (₹2,400 crore approx). This acquisition, expected to close by January 31, 2026, will be routed through Titan Holdings International FZCO and marks a significant shift in Titan’s global strategy moving beyond serving just the Indian diaspora to targeting a wider range of customers across the GCC region (UAE, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain). The deal will be funded using Titan’s internal accruals, existing cash, and some debt. Post-deal, Titan will hold majority control in Damas, with the option to buy the remaining 33% from Mannai Corporation after December 2029. Strategically, this gives Titan deeper access to the Middle East jewellery market, helping them scale faster in a highly competitive and growing premium retail segment. Follow me for more such updates, Thank You! Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.