GRT Jewellers to buy 74% of TBZ for up to ₹1,033 Cr
What's the deal? GRT JewellersDealroom has a profile for this one. Try Dealroom → will acquire a 74.12% stake in Tribhovandas Bhimji Zaveri Limited (TBZ)Dealroom has a profile for this one. Try Dealroom → for up to ₹1,033.71 crore, according to a filing on the BSE. GRT will also launch an open offer for a further roughly 26% of TBZ, as required under Securities and Exchange Board of India (SEBI) rules.
What each side brings: GRT operates 68 stores across India and Singapore, while TBZ runs 37 stores. The combination hands GRT a larger retail footprint and control of one of India's older jewellery brands.
Why now? India's jewellery retail sector remains fragmented, with organised chains steadily consolidating regional and legacy brands to build national scale. The TBZ deal fits that pattern, giving GRT an established name and new markets in a single transaction.
What's next? The acquisition is subject to regulatory approvals and customary closing conditions. DeloitteDealroom has a profile for this one. Try Dealroom →, Axis CapitalDealroom has a profile for this one. Try Dealroom →, TrilegalDealroom has a profile for this one. Try Dealroom →, Srihari & CoDealroom has a profile for this one. Try Dealroom →, AZB & PartnersDealroom has a profile for this one. Try Dealroom →, and Ernst & YoungDealroom has a profile for this one. Try Dealroom → advised on the transaction.
The signal: The move underscores how India's larger jewellery chains are turning to acquisitions to expand faster than organic store growth allows, absorbing established brands rather than building new ones from scratch.
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