New Delhi, September 8, 2026 (Yes Punjab News)
GRT Jewellers India Private Ltd has proposed to acquire a controlling 74 per cent stake in listed jewellery retailer Tribhovandas Bhimji Zaveri Ltd (TBZ) from its existing promoters in an all-cash transaction valued at ₹1,033 crore.
The proposed change in control has triggered an open offer for TBZ’s public shareholders. TBZ informed stock exchanges that it had received the detailed public statement from Axis Capital, which is acting on behalf of GRT Jewellers in connection with the offer.
The open offer covers up to 1,72,70,845 fully paid-up equity shares, representing 25.88 per cent of TBZ’s voting share capital. The offer provides public shareholders an opportunity to sell their shares following the proposed transfer of control.
TBZ, founded in Mumbai’s Zaveri Bazaar in 1864, has grown from a single outlet into a 37-store network spanning 28 cities, primarily across Maharashtra and Gujarat. About 65 per cent of its revenue comes from wedding and occasion-related jewellery purchases.
The proposed transaction would mark a significant change for a jewellery business that has remained under family ownership for more than 160 years.
GRT Jewellers, founded in 1964, operates jewellery retail businesses in India and overseas.
TBZ shares reacted positively to the announcement, hitting the upper circuit for the second consecutive trading session. The stock rose 4.99 per cent to ₹545.70 on the BSE on Tuesday, its highest level in 52 weeks, extending the 5 per cent gain recorded on Monday when it closed at an upper circuit of ₹519.75.
According to BSE data, TBZ has touched a 52-week low of ₹110.95. The stock has delivered a return of more than 190 per cent over the past year.
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