<p><em>By Divya Patil</em></p>.<p>Tata Group’s unit Titan Co. is in early talks with banks as it mulls selling its first ever local-currency bond for Rs 3000 crore, according to people familiar with the matter.</p><p>India’s biggest jewelery maker plans to use the proceeds to help finance its acquisition of CaratLane Trading Pvt., said the people, who requested anonymity discussing a private matter. Other elements of the planned transaction are still under negotiation, they said, adding it may conclude by month’s end.</p>.G20 effect? Nifty hits record-high 20K-mark, Sensex regains 67K level.<p>The bond would be Titan’s first in rupees, according to <em>Bloomberg</em>-compiled data. </p><p>Titan is in the process of raising its stake in CaratLane to capitalize on its big online retail presence. India’s M&A rules don’t typically allow the use of bank loans for such transactions. </p><p>Titan didn’t immediately reply to <em>Bloomberg</em>’s email and calls seeking comment. </p>
<p><em>By Divya Patil</em></p>.<p>Tata Group’s unit Titan Co. is in early talks with banks as it mulls selling its first ever local-currency bond for Rs 3000 crore, according to people familiar with the matter.</p><p>India’s biggest jewelery maker plans to use the proceeds to help finance its acquisition of CaratLane Trading Pvt., said the people, who requested anonymity discussing a private matter. Other elements of the planned transaction are still under negotiation, they said, adding it may conclude by month’s end.</p>.G20 effect? Nifty hits record-high 20K-mark, Sensex regains 67K level.<p>The bond would be Titan’s first in rupees, according to <em>Bloomberg</em>-compiled data. </p><p>Titan is in the process of raising its stake in CaratLane to capitalize on its big online retail presence. India’s M&A rules don’t typically allow the use of bank loans for such transactions. </p><p>Titan didn’t immediately reply to <em>Bloomberg</em>’s email and calls seeking comment. </p>