- GRT Jewellers (India) Private Limited launched a mandatory open offer for 25.88 % of Tribhovandas Bhimji Zaveri Limited (NSE: TBZ, BSE: 534369), pricing shares at ₹249.61 each, which would total ₹4,31,09,75,621 in cash if fully accepted.
- The underlying Share Purchase Agreement will transfer 4,94,59,775 shares (≈ 74.12 % of voting capital) from the promoter group at ₹209.00 per share, with aggregate consideration up to ₹10,337,092,975 in cash.
- After the transaction, the Acquirer will hold 74.12 % of the company, while public shareholding remains at 25.88 %, satisfying SEBI’s minimum public‑shareholding rule.
- The deal requires approvals from the Competition Commission of India and lenders (SBI, Union Bank of India, etc.) and is being managed by Axis Capital Limited; a detailed public statement must be published by 7 September 2026.
- The Acquirer has confirmed it will not delist the target, so the shares will stay listed after control shifts to GRT Jewellers (India) Private Limited.
The open offer is priced well below TBZ's current market level, so the stock is likely to slip in the near term. The decline should be moderate and may stabilize once the transaction clears regulatory hurdles.
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Forecast from comparable, historic events. Not investment advice.
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