Management Change30 Oct 2026, 02:51 pm
TBZ Ltd Board Approves Director Changes Amidst Share Sale
AI Summary
Tribhovandas Bhimji Zaveri Ltd's Board of Directors met on October 30, 2026, to acknowledge the completion of a significant share sale. GRT Jewellers (India) Private Limited acquired 74.12% of the company's equity shares from existing promoters. Consequently, the sellers have ceased to be promoters and lost control of the company. The Board also noted that TBZ Ltd has now become a subsidiary of the Acquirer. Additionally, the Board recommended the appointment of Mr. Govindarajulu Rajendran as a Non-Executive Director, subject to shareholder approval.
Key Highlights
- Promoter group sold 74.12% stake to GRT Jewellers.
- Company is now a subsidiary of GRT Jewellers.
- Promoter and promoter group status has ceased.
- Board noted change in control and recommended new director appointment.
Price Impact
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