Titan advances after subsidiary incorporates new Co.

Titan Company rose 0.30% to Rs 1163.20 after its Dubai-based arm, Titan Holdings International FZCO, incorporated a new subsidiary called Titan Global Retail LLC in Dubai, United Arab Emirates.

As per the filings, Titan Global Retail LLC, Dubai is now the new subsidiary of Titan Holdings International FZCO, Dubai. Titan Global is expected to carry out business activities pertaining to lifestyle products. The objective of Titan Global Retail LLC is to carry out business activities and retail trade in the industry in which its parent company operates. The company received its certificate of incorporation on Sunday, 15 December 2019.

Titan Global was incorporated on the basis of approval granted by Department of Economic Development, Dubai. Titan Holdings would subscribe up to 99.66% of the total share capital worth AED 3,00,000. The disclosure was made after trading hours yesterday, 19 December 2019.

Titan Holdings International FZCO, Dubai is a 100% wholly owned subsidiary of Titan Company.

Titan Global will be mainly engaged in carrying out business activities and retail trade for carrying out business activities, in the industry in which Titan Company Limited operates.

Titan Company is engaged in offering watches, jewelry and others. The firm's segments include watches, jewellery, eyewear and others. The company also offers plain and studded gold jewelry brands, such as Tanishq, GoldPlus, Zoya, Mia, which are retailed through Tanishq, GoldPlus, Zoya & Mia stores.

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