GRT Jewellers Launches Open Offer for Tribhovandas Bhimji Zaveri

GRT Jewellers (India) Private Limited, through its Manager Axis Capital Ltd, has announced an open offer to acquire up to 1,72,70,845 equity shares of Tribhovandas Bhimji Zaveri Ltd. The offer price is set at INR 249.61 per share, valuing the total transaction at approximately INR 4,310.98 crore. This acquisition represents 25.88% of the target company's voting share capital. The offer is made in compliance with SEBI (SAST) Regulations, 2011, though it is slightly below the minimum 26% threshold stipulated by Regulation 7(1), as it represents the total shares held by public shareholders. A detailed public statement and letter of offer will be issued.