TBZ Ltd: GRT Jewellers Files Draft Open Offer Letter

Axis Capital Ltd, acting as the Manager to the Offer, has submitted a Draft Letter of Offer to the BSE for the public shareholders of Tribhovandas Bhimji Zaveri Ltd (TBZ). This submission is in compliance with SEBI (SAST) Regulations, 2011. GRT Jewellers (India) Private Limited is making a cash offer to acquire up to 1,72,70,845 equity shares of TBZ, representing 25.88% of the voting share capital, at a price of INR 249.61 per share. The offer is being made pursuant to Regulations 3(1) and 4 of the SEBI (SAST) Regulations and is not conditional or a competing offer.