GRT Jewellers to Acquire 74.12% of TBZ for ₹1,033.71 Cr

GRT Jewellers India Private Limited (GRT) has signed a share purchase agreement (SPA) to acquire a 74.12% stake in Tribhovandas Bhimji Zaveri Limited (TBZ) for up to ₹1,033.71 Crores. This acquisition, subject to regulatory approvals, aims to expand GRT's pan-India presence by integrating TBZ's 37 stores with GRT's existing 68 stores. GRT will also launch an open offer for the remaining ~26% of TBZ shares as per SEBI regulations. The deal is expected to leverage the complementary strengths of both heritage jewelry brands to create a stronger retail experience and drive future growth. Advisors for the transaction included Deloitte, Axis Capital, Trilegal, Srihari & Co, AZB & Partners, and Ernst & Young LLP.