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GRT Jewellers to buy out TBZ promoters for ₹1,034cr
GRT Jewellers will acquire a 74.12% stake in Tribhovandas Bhimji Zaveri for up to ₹1,033.71 crore. This acquisition will expand GRT's retail network to 106 stores across India. GRT will also launch a mandatory open offer for the remaining 26% stake. The deal will see TBZ promoters resign from the board after completion. Some promoters may enter employment or consultancy arrangements to aid the transition.
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thehindubusinessline.com
GRT Jewellers to acquire 74.12% stake in Tribhovandas Bhimji Zaveri
GRT Jewellers India will acquire a 74.12% stake in Tribhovandas Bhimji Zaveri for up to ₹1,034 crore and launch an open offer for 26%.
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GRT Jewellers is set to pick up a 74.12% stake in TBZ
GRT Jewellers acquires 74% of TBZ for ₹1,034 crore, aiming for national expansion and enhanced retail presence across India.
