GRT Jewellers seeks control of Tribhovandas Bhimji Zaveri in up to $109 million deal

GRT Jewellers will acquire a significant stake in Tribhovandas Bhimji Zaveri for over 10 billion rupees. This acquisition aims to expand GRT's nationwide presence through Tribhovandas Bhimji Zaveri's existing stores. The deal involves acquiring a majority stake and launching an open offer for more shares. Both companies are prominent in gold and diamond jewellery, catering to Indian traditions. The transaction is subject to necessary regulatory approvals before finalization.