Titan Company to Acquire 67% Stake in Dubai-Based Damas Jewellery for $283 Million in All-Cash Deal from Mannai Corporation

Titan Company, an Indian jewellery firm, has agreed to acquire a 67% stake in Dubai-based luxury jewellery brand Damas LLC. The acquisition will be executed through Titan's UAE subsidiary in an all-cash deal valued at AED 1.04 billion (approximately $283 million or Rs 2,439 crore). The stake is being purchased from Qatar's Mannai Corporation. This move marks Titan's strategic expansion into the Gulf Cooperation Council (GCC) jewellery market and positions it as one of the largest Indian jewellers in the Middle East.