Archive · 2 Sep 2026
TBZ Shares Surge 20% After GRT Agrees Takeover
TBZ is a jewellery company with 37 stores in India.
GRT Jewellers has agreed to buy most of TBZ from its current promoters.
The stake being purchased is 74.12%, for up to ₹1,033.71 crore.
GRT will also make an offer to buy shares from other TBZ investors.
The deal still needs regulatory approvals before it can be completed.
Investors liked the news and pushed TBZ’s share price up by 20%.
GRT has many stores in southern India, while TBZ has a strong presence in western India.
The companies say their combined strengths could help TBZ grow.
TBZ began in 1864 and has operated for 162 years.
TBZ shares rose 20% to about ₹366.80, hitting a record high and the upper circuit.
GRT Jewellers agreed to acquire a 74.12% promoter stake in TBZ for up to ₹1,033.71 crore, or ₹209 per share.
GRT will launch a mandatory open offer for the remaining 26% stake under applicable SEBI regulations.
The transaction remains subject to regulatory approvals and customary closing conditions.
Investors expect the combination to support TBZ’s growth by pairing GRT’s southern India presence with TBZ’s western India footprint.
- Who
- GRT Jewellers and the promoters of Tribhovandas Bhimji Zaveri are parties to the proposed transaction.
- What
- GRT will acquire a 74.12% controlling stake in TBZ and launch an open offer for another 26%.
- When
- The announcement was reported after an exchange filing dated 31 August, with the share-price surge occurring on Tuesday, 1 September.
- Where
- The companies operate in India; GRT also has one store in Singapore, while TBZ has a pan-India network.
- Why
- Investors expect the new promoter and the complementary regional footprints of GRT and TBZ to improve TBZ’s growth prospects.
- Acquirer
- GRT Jewellers
- Target
- Tribhovandas Bhimji Zaveri
- Promoter stake
- 74.12%
- Transaction value
- Up to ₹1,033.71 crore
- Agreed price
- ₹209 per share
- Open offer
- Mandatory offer for the remaining 26% stake
- Share-price move
- TBZ rose 20% to approximately ₹366.80 on Tuesday
