Tribhovandas Bhimji Zaveri (TBZ) — Offer Document

📢 Key Event
GRT Jewellers makes cash open offer for 25.88% stake in TBZ at INR 249.61 per share

🔄 What Changed
Offer size of 1,72,70,845 shares (25.88% of voting capital) at INR 249.61 per share; pending CCI and lender approvals; tentative schedule set for offer closure on November 6, 2026

🔮 What's Next
Offer may be revised before October 22, 2026; withdrawal possible if statutory approvals are delayed or refused; completion requires CCI and lender approvals

💡 Investor Takeaway
Shareholders can tender shares until November 6, 2026, with full consideration paid within 10 working days after closure, but the offer may be withdrawn if approvals are not secured.

GRT Jewellers (India) Private Limited, via Axis Capital, made a cash open offer to acquire up to 1,72,70,845 fully paid-up equity shares of Tribhovandas Bhimji Zaveri Limited (TBZ) at INR 249.61 per share, representing 25.88% of TBZ's voting share capital. The offer, made under SEBI (SAST) Regulations, follows a prior share purchase agreement to acquire 74.12% of TBZ from promoters. Key dates include public announcement on August 31, 2026, DPS publication on September 7, 2026, and offer closure on November 6, 2026. Funds of up to INR 431.10 crores will be held in escrow, with regulatory approvals (CCI, lenders) pending. Risks include statutory approval delays, RBI compliance for non-residents, and potential withdrawal if conditions aren't met.

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About Tribhovandas Bhimji Zaveri Ltd (TBZ)

Consumer Durables · Diamond, Gems and Jewellery · Listed on BSE

Market Cap: ₹3,496.68 Cr P/E: 16.4 ROE: 32.5% ROCE: 26.3% Div Yield: 0.43%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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