GRT Jewellers has agreed to acquire a controlling 74.12% stake in Tribhovandas Bhimji Zaveri (TBZ) through a share purchase agreement, valuing the transaction at about ₹1,034 crore. The deal is described as giving GRT control over TBZ and is expected to support expansion of the retailer’s store network.
Multiple outlets report that the acquisition is contingent on regulatory approvals and other standard closing conditions. Economic Times and NDTV add that the promoter’s holding is involved in the transaction structure, with Economic Times citing a figure of up to ₹1,033.71 crore. Several sources also note that, because GRT will become the controlling shareholder, it plans to seek additional shares via a mandatory open offer.
While the reported stake percentage and approximate deal value are consistent across coverage, outlets vary slightly in how they phrase the total consideration (e.g., “₹1,034 crore” versus “up to Rs 1,033.71 crore”). All accounts characterize the transaction as part of GRT’s push for a wider, national presence by combining the two jewellery brands.
