M&A M&A
GRT Jewellers to acquire 74.12% stake in TBZ for Rs.1,033.7-Cr
Source Mint (opens in a new tab)
Chennai-based GRT Jewellers is to acquire a 74.12% stake in the Mumbai-headquartered jewellery retailer TBZ (Tribhovandas Bhimji Zaveri Ltd) from its promoters. The transaction values the promoter stake at INR 1,033.71-Cr.Following the completion of this deal, GRT plans to launch an open offer to acquire an additional approximately 26% stake from public shareholders.TBZ began in 1864 with a single flagship store in Zaveri Bazar and now operates 37 stores across India. About 59% of its stores are located in the Western region.GRT, on the other hand, reported a revenue of INR 34,369 crore in FY25.
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For FY25, TBZ had reported about INR 3,203 Cr in Operating Income and about INR 200 Cr in PAT.