Editor’s Note
Titan Company Limited has finalized its acquisition of a controlling 67% stake in the Damas Jewellery business across GCC nations. This strategic move, executed via its UAE subsidiary, positions the newly formed Signature Jewellery Holding Ltd as the venture’s holding company, with Qatar’s Mannai Corporation retaining a 33% stake.
Titan Company Limited has successfully completed the acquisition of a 67% stake in the Damas Jewellery business across GCC countries through its UAE-based subsidiary, Titan Holdings International FZCO. The transaction establishes Signature Jewellery Holding Ltd as the holding company, with the remaining 33% stake held by MC International Limited, a subsidiary of Mannai Corporation QPSC, Qatar.
Following earlier communications, Titan Holdings International FZCO has finalized the acquisition of the Damas Jewellery business through its subsidiary Signature Jewellery Holding Ltd. The completion was formally announced through a regulatory filing under Regulation 30 of SEBI Listing Regulations.
Signature Jewellery Holding Ltd has emerged as the holding company for the Damas jewellery business following the transaction completion. The remaining 33% stake is held by MC International Limited, a wholly owned subsidiary of Mannai Corporation QPSC, Qatar, creating a strategic partnership structure.
This acquisition establishes Titan’s controlling presence in the GCC jewellery market through the established Damas brand. The transaction leverages Titan’s international subsidiary framework to facilitate overseas expansion while maintaining operational efficiency in the regional market.
The completion was communicated to BSE Limited and National Stock Exchange of India Limited in compliance with listing regulations, ensuring transparency in the significant corporate development. The formal completion marks the culmination of the acquisition process that began with earlier regulatory communications.
