On August 31, 2026, GRT Jewellers, a Chennai based family jewellery chain, signed a share purchase agreement to acquire up to 74.12 percent of Tribhovandas Bhimji Zaveri Ltd (TBZ) from the Zaveri promoter family. The value of the block sale is up to 1,033.71 crore rupees (approximately 124 million dollars), plus a mandatory open offer for a further 26 percent under Indian takeover rules. TBZ was founded in 1864 by Bhimji Zaveri and remained under family control for five generations, most recently under CMD Shrikant Zaveri and his daughters Binaisha and Raashi Zaveri. TBZ shares surged 38 percent following the announcement. Deloitte acted as lead adviser on the transaction, Axis Capital as financial adviser to GRT, and Trilegal as legal counsel.
Sources:
Livemint. https://www.livemint.com/
Kotak Neo. https://www.kotakneo.com/news/