GRT Jewellers India Private Limited has announced its decision to acquire a significant 74.12% stake in Tribhovandas Bhimji Zaveri Limited (TBZ) from the current promoters and associated promoter group. The transaction, valued at ₹1,034 crore, is a major step for GRT Jewellers in expanding its footprint in the Indian jewellery market.
The legal advisory for this substantial acquisition was expertly handled by Trilegal. The team was spearheaded by Partners Ashwyn Misra and Deep Choudhuri, with crucial support from Senior Associates Teeshta Bissa and Jatin Sharma. Further legal expertise was provided by Associates Anuraag Pillai, Shubhangi Singh, Niti Gosrani, Rohit Krishna, and Anthara N.
Trilegal’s multidisciplinary teams also played vital roles in this transaction. The Employment Law team was led by Partner Kanishka Maggon, with Associate Abhijeet Singh contributing. Intellectual Property issues were managed by Partner Kirti Balasubramanian and Associate Paarth Samdani. The Real Estate team, under Partner Rahul Arora, was supported by Senior Associate Yashasvi Gupta and Consultants Virendra Bapat, Meghana Reddy Pulugu, and Shivek Jhanda. The Competition Law team’s efforts were guided by Partner Gautam Chawla, supported by Counsel Ankush Walia, Senior Associate Madhav Kapoor, and Associates Archit Jain and Shambhavi Sirothia.
The completion of this acquisition is contingent upon receiving approval from the Competition Commission of India and fulfilling certain predefined conditions. As part of the acquisition strategy, GRT Jewellers has also extended a mandatory open offer to TBZ’s public shareholders, aiming to acquire up to 25.88% of the total equity share capital of the company.
This acquisition positions GRT Jewellers to capitalize on TBZ’s established retail network, which encompasses 37 stores across India. Additionally, it grants GRT access to the TBZ brand and its valuable intellectual property, significantly advancing GRT’s ambition to become a leading pan-India jewellery retailer.
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