TBZ Ltd Receives Draft Letter of Offer for Open Offer

Tribhovandas Bhimji Zaveri Limited (TBZ) has received a draft letter of offer (DLOF) from Axis Capital Limited concerning an open offer by GRT Jewellers (India) Private Limited. The open offer aims to acquire up to 1,72,70,845 equity shares of TBZ, representing 25.88% of the voting share capital, at a price of ₹249.61 per equity share. This offer is being made in compliance with SEBI (SAST) Regulations, 2011. The DLOF is an important document for public shareholders, and clarifications can be sought from stockbrokers or the Manager to the Offer. The offer is not conditional or a competing offer, but may be subject to further statutory approvals.