GRT Jewellers to acquire majority stake in heritage TBZ chain

GRT Jewellers, one of South India's leading jewellery retailers, has signed an agreement to acquire a controlling stake in TBZ—The Original, marking a significant consolidation move in the Indian jewellery market. The acquisition values the majority stake at ₹1,034 crore, according to regulatory filings.

The transaction will give GRT Jewellers a 74.12 per cent ownership in TBZ, which has operated as a heritage jewellery brand for over 160 years. Following the completion of the initial stake acquisition, GRT will be required to make an open offer to acquire the remaining 26 per cent shareholding from minority investors, as mandated by SEBI's takeover regulations.

The acquisition aligns with GRT Jewellers' expansion strategy to strengthen its pan-India presence and footprint in the organised jewellery retail segment. TBZ operates a network of stores across multiple cities and brings considerable brand equity and customer loyalty to the combined entity.

The transaction is subject to customary closing conditions and regulatory approvals. Industry analysts view the consolidation as reflective of ongoing trends in the jewellery sector, where larger, well-capitalised retailers are acquiring heritage brands to build scale and market share.