GRT Jewellers India Private Limited is set to acquire 74.12% of Tribhovandas Bhimji Zaveri Limited (TBZ) from its promoters and members of the promoter group for ₹1,034 crore.

Trilegal advised GRT Jewellers on this transaction.

The transaction was led by Ashwyn Misra (Partner) and Deep Choudhuri (Partner), with assistance from Teeshta Bissa (Senior Associate), Jatin Sharma (Senior Associate), Associates Anuraag Pillai, Shubhangi Singh, Niti Gosrani, Rohit Krishna, and Anthara N. The following provided support:

Employment team: Kanishka Maggon (Partner), Abhijeet Singh (Associate).

Intellectual Property team: Kirti Balasubramanian (Partner), Paarth Samdani (Associate). 

Real Estate team: Rahul Arora (Partner), Yashasvi Gupta (Senior Associate) and Consultants Virendra Bapat, Meghana Reddy Pulugu, and Shivek Jhanda.

Competition team: Gautam Chawla (Partner), Ankush Walia (Counsel), Madhav Kapoor (Senior Associate) and Associates Archit Jain and Shambhavi Sirothia.

The transaction subject to approval from the Competition Commission of India, and completion of identified conditions precedent.

Pursuant to the proposed acquisition, GRT has initiated a mandatory open offer to the public shareholders of TBZ to acquire up to 25.88% of the total equity share capital of TBZ.

The acquisition will provide GRT access to TBZ’s retail network of 37 stores across India along with the TBZ brand and its associated intellectual property, thereby accelerating GRT’s objective of becoming a pan-India jewellery retailer.

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