Chennai headquaretred GRT Jewellers India Private Limited (GRT) will be acquiring a majority stake in Tribhovandas Bhimji Zaveri Limited. GRT in a statement announced the signing of share purchase agreement (SPA) with the promoters of Tribhovandas Bhimji Zaveri Limited (well known as TBZ the Original) to acquire their stake of 74.12% in the company. As per the SPA, GRT would acquire the promoter’s stake for an aggregate value of up to ₹1,033.71 crore. The consummation of the SPA will be subject to appropriate regulatory approvals and customary closing conditions. GRT will also be launching an open offer for another 26% as per applicable SEBI regulations.G.R. ‘Ananth’ Ananthapadmanabhan, Managing Director of GRT Jewellers, said: “This very well fits into our strategy of spreading our presence across India with TBZ having 37 stores.Shrikant Zaveri, Chairman & Managing Director of TBZ, said that what began five generations and 162 years ago as a single storefront in Zaveri Bazaar has now grown through decades into 37 locations across the country.” Deloitte was the lead advisor to the transaction and Axis Capital acted as the financial advisor for GRT. Ernst & Young LLP acted as the financial advisor for TBZ. Published - August 31, 2026 09:19 pm IST