Retail

GRT Jewellers seals ₹1,034 crore deal for 74% stake in TBZ

Chennai chain gains 37-store pan-India footprint overnight; open offer for residual stake follows SEBI rules.

Meera Iyer, Retail correspondent·2 September 2026·4 min read

Quiet jewellery showroom display cases with gold ornaments under warm spotlights

GRT Jewellers on 1 September 2026 signed a share purchase agreement to acquire 74.12% promoter stake in Tribhovandas Bhimji Zaveri for up to ₹1,033.71 crore. The deal is subject to regulatory approvals. GRT will also make an open offer for the remaining shares. TBZ operates 37 stores.

GRT called the acquisition transformative for its pan-India ambition. Both brands will continue to operate. Funding comes from internal accruals. TBZ’s 162-year legacy and store base give GRT instant scale beyond its southern stronghold.

Jewellery shop floors in TBZ cities gain a better-capitalised owner that can push inventory turns and wedding-season marketing. Existing GRT stores benefit from shared sourcing and design pipelines without immediate rebranding pressure.

₹1,034 crore buys GRT 74% of TBZ and 37 stores pan-India.

Listed peers and regional jewellers face a stronger southern player with national reach. Titan, Kalyan and Malabar watch a new multi-brand competitor that can contest share in overlapping catchments.

Next catalysts are CCI and other clearances plus the open-offer timeline. Festive and wedding bookings at the combined network will show whether the integration lifts volumes before year-end.

Filed under Retail·Meera Iyer

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