Archive · 8 Sep 2026
GRT Jewellers Proposes ₹1,033 Crore Acquisition of TBZ Stake
GRT Jewellers wants to buy most of another jewellery company called TBZ.
The proposed deal is worth ₹1,033 crore and would give GRT control of TBZ.
TBZ has been in business for more than 160 years.
It has grown from one store in Mumbai to 37 stores in 28 cities.
GRT's purchase would end TBZ's long period of family ownership.
GRT has also made an open offer to buy shares from TBZ's public investors.
This gives public shareholders a chance to sell their shares.
Investors reacted positively, and TBZ's share price reached a new 52-week high.
GRT Jewellers India proposed acquiring a 74% controlling stake in Tribhovandas Bhimji Zaveri from its existing promoters.
The all-cash transaction is valued at ₹1,033 crore and would change control of TBZ.
GRT has triggered an open offer for up to 1,72,70,845 shares, representing 25.88% of TBZ's voting share capital.
TBZ shareholders received an opportunity to sell their shares after the proposed change in ownership.
TBZ shares rose 4.99% to ₹545.70 on the BSE, reaching a fresh 52-week high.
- Who
- GRT Jewellers India Private Limited and Tribhovandas Bhimji Zaveri, along with TBZ's existing promoters and public shareholders.
- What
- GRT proposed acquiring a 74% controlling stake in TBZ through an all-cash ₹1,033 crore deal and triggered a mandatory open offer.
- When
- The proposal was reported on Tuesday, following a similar upper-circuit move by TBZ shares on Monday.
- Where
- The transaction concerns TBZ, which was founded in Mumbai's Zaveri Bazaar and operates stores across India.
- Why
- The acquisition would give GRT control of TBZ, while the open offer would allow public shareholders to sell their shares.
- Acquirer
- GRT Jewellers India Private Limited
- Target
- Tribhovandas Bhimji Zaveri
- Proposed stake
- 74% controlling stake
- Deal value
- ₹1,033 crore, all-cash
- Open offer size
- Up to 1,72,70,845 fully paid-up equity shares
- Open offer percentage
- 25.88% of TBZ's voting share capital
- TBZ share price
- ₹545.70 on the BSE, up 4.99%
- TBZ retail network
- 37 stores across 28 cities
