An IPO for CaratLane wasn't an option as it wouldn't have raised shareholder Titan's value, said CaratLane Founder Mithun Sacheti, who recently sold his 27% stake to Titan. "I think...they didn't want two jewellery businesses to be listed...and when you're in a partnership, if it doesn't add value for one partner, why should the other one do it?" Sacheti added.