GRT Jewellers to acquire majority stake in Tribhovandas Bhimji Zaveri

GRT Jewellers announced plans to acquire a majority stake in Tribhovandas Bhimji Zaveri, one of India's oldest and most established jewellery retailers. The acquisition will be structured in two phases, with GRT first securing a 74.12% stake directly from the company's principal shareholders.

Following the initial share purchase, GRT intends to launch an open offer to acquire approximately 26% of the remaining shares from minority stakeholders at a price to be determined in accordance with Securities and Exchange Board of India regulations.

Both companies confirmed the transaction through official announcements, though specific financial details and timelines were not disclosed. The deal represents a strategic consolidation within India's increasingly competitive jewellery retail space, where organized players have been expanding their market presence through acquisitions and organic growth.

Tribhovandas Bhimji Zaveri, headquartered in Mumbai, has established itself as a trusted jewellery brand with a significant retail footprint across India. The acquisition by GRT, which operates a substantial chain of jewellery stores primarily across South India, is expected to create operational synergies and broaden market reach for both entities.

The transaction remains subject to regulatory approvals and customary closing conditions. Industry observers view the move as part of a broader consolidation trend in the Indian jewellery sector, where established regional players are seeking to strengthen their competitive positions through strategic partnerships and acquisitions.