TRIB BHIMJI ZAVERI (TBZ)
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CCI approves GRT Jewellers' ₹1,034 crore deal for 74.12% TBZ stake
The Competition Commission of India has cleared GRT Jewellers' ₹1,034 crore acquisition of a 74.12% controlling stake in TBZ. The approval removes the key regulatory hurdle, paving the way for the transaction to close. The deal will consolidate GRT's position in the Indian jewellery market and give it control of the TBZ brand.
GRT Jewellers launches ₹431 crore open offer for remaining TBZ stake
Chennai-based GRT Jewellers has issued a letter of offer (LOF) to the public shareholders of Tribhovandas Bhimji Zaveri (TBZ) to acquire the remaining 25.88 per cent (1,72,70,845 shares) of the legacy jeweller for ₹431 crore. This follows GRT’s recent acquisition of around a 75% promoter stake in TBZ. The offer is at ₹249.61 per share - a nearly 120 per cent discount to the company’s closing share price of ₹550.65 on Wednesday.
Jewellery stocks surge up to 100% on strong demand
3 Min Read India's Jewellery stocks have been shining bright over the last one month, led predominantly by the mid-sized and the smaller names, including the recent listings. Shares of Tribhovandas Bhimji Zaveri (TBZ) have already doubled in value over the last one month, having gained 101%, while those of recent listings Lalithaa Jewellers, PC Jewellers have also surged up to 60% and 40% respectively over the same timeframe.
Tribhovandas Bhimji Zaveri shares surge 58% in four days
Tribhovandas Bhimji Zaveri soars 58% in 4 days; zooms 107% from Aug low TBZ share price hit a new high of ₹480.85 on Friday, surging 93% over its open offer price of ₹249.61 per share. Listen to This Article Tribhovandas Bhimji Zaveri share price movement Tribhovandas Bhimji Zaveri (TBZ) share price was locked at the 10 per cent upper circuit at ₹480.85 on the National Stock Exchange (NSE) in Friday’s intra-day deals with only buyers seen on the counter.
TBZ shares surge 38% in two sessions on GRT Jewellers deal
TBZ shares have extended their rally to a second session, climbing over 38% in two days and hitting record highs after the company announced a stake deal with GRT Jewellers. The market is reacting positively to the strategic partnership, which has sparked optimism about TBZ's growth prospects. The stock has repeatedly hit the upper circuit limit, indicating strong buying momentum.
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