Tamil Nadu’s popular and iconic jewellery brand GRT Jewellers is looking to go national.
Chennai-based GRT Jewellers is set to acquire a 74.12 per cent stake in Tribhovandas Bhimji Zaveri (popularly known as TBZ the Original or TBZ) for ₹1,034 crore.
The jewellery majors announced the signing of a share purchase agreement (SPA) between GRT and TBZ, whereby the former will acquire a 74 per cent stake held by the promoters of the listed entity, TBZ.
GRT said it will also launch an open offer for the remaining 26 per cent, which is currently held by Foreign Institutional Investors (1.47 per cent) and retail shareholders (24.4 per cent) as of June 2026.
TBZ’s market capitalisation is around ₹2,030 crore as at the time of writing.
The deal is subject to appropriate regulatory approvals and customary closing conditions.
TBZ has 162-year-old legacy
With a history dating back to 1864, TBZ is one of India’s oldest jewellery retailers. The Mumbai-headquartered company operates a network of 37 stores across the country selling gold, diamond and precious jewellery.
“We are truly excited to acquire the 162 years old legacy brand TBZ. This very well fits into our strategy of spreading our presence across India with TBZ having 37 Stores,” G.R. Ananthapadmanabhan, Managing Director of GRT Jewellers, said in a statement.
Acquisition to strengthen pan-India presence
G.R. Radhakrishnan, Managing Director of GRT Jewellers, told businessline that the acquisition helps the Group achieve a meaningful pan-India presence, and brings a lot of synergies. “The complementary strengths of both organisations – their heritage, customer relationships and merchandise portfolio, together with GRT’s retail capabilities and growth orientation—create a powerful retail experience,” he added.
“What began five generations and 162 years ago as a single storefront in Zaveri Bazaar and a family dream has grown through decades of relentless dedication into 37 locations across the country. Seeing it step into the future with GRT fills me with immense pride. We know that our heritage, our values, and our people are in the absolute best hands to write the next great chapter for TBZ,” Shrikant Zaveri, Chairman & Managing Director of TBZ, said.
GRT operates 68 stores across India
GRT Jewellers, founded by the Chairman G. Rajendran in 1964, is an established, leading jewellery retailer with 68 Stores across India and one store in Singapore, employing over 12,000 people. GRT Jewellers has around 6,50,000 sq.ft of retail space, a strong presence in e-commerce, and operates a few sub-brands, such as Oriana for lightweight, affordable jewellery in gold and diamonds and Silvana for Silver.