GRT Jewellers to Acquire Controlling Stake in TBZ

GRT Jewellers is set to acquire a controlling stake in Tribhovandas Bhimji Zaveri (TBZ) in a transaction worth up to ₹1,033.71 crore, strengthening its presence across India’s organised jewellery market. Key Highlights • The acquisition gives GRT access to TBZ’s 37-store network across 28 cities. • TBZ has a strong presence in Maharashtra and Gujarat, complementing GRT’s existing network of 68 stores in India. • The deal also triggers a mandatory open offer for an additional 25.88% stake in TBZ. • Including the open offer, the overall transaction value could rise to approximately ₹1,464.81 crore. Why It Matters The acquisition gives GRT a faster route to expand beyond its traditional markets by acquiring an established heritage jewellery brand and retail network. For TBZ, the partnership brings access to GRT’s capital, infrastructure, product portfolio and e-commerce capabilities. The key monitorable will be whether GRT can improve store productivity and inventory management at TBZ while successfully integrating the two businesses.