GRT Jewellers to Acquire 74.12% Stake in TBZ for up to ₹1,033 Crore

GRT Jewellers India Private Limited has signed an agreement to acquire a 74.12 per cent stake in Tribhovandas Bhimji Zaveri Ltd (TBZ), known as TBZ The Original, for an aggregate value of up to ₹1,033.71 crore, according to a company statement released in Hyderabad.

The agreement was signed with TBZ’s promoters on August 31. The completion of the transaction remains subject to regulatory approvals and customary closing conditions. Following the agreement, GRT stated that it will launch an open offer for approximately 26 per cent of TBZ under applicable Securities and Exchange Board of India (SEBI) regulations.

GRT managing director G.R. ‘Ananth’ Ananthapadmanabhan said the acquisition aligns with the company’s broader strategy of expanding its retail footprint across India, highlighting that TBZ currently operates 37 stores across the country.

GRT managing director G.R. Radhakrishnan described the deal as “transformative.” He stated that the combined heritage, customer relationships, and merchandise portfolios of both companies, paired with GRT’s retail capabilities, would support TBZ in its next phase of growth.

Reflecting on the brand's journey, TBZ Chairman and Managing Director Shrikant Zaveri said the company began 162 years ago as a single storefront in Zaveri Bazaar and has since grown to 37 locations. He expressed confidence that TBZ's heritage, values, and workforce would be in “the absolute best hands” under GRT.