The Competition Commission of India (CCI) has approved GRT Jewellers' proposed acquisition of a 74.12% stake in listed jewellery retailer Tribhovandas Bhimji Zaveri Limited (TBZ). According to reports from CNBC TV18, the competition regulator announced this approval on October 13, 2026, with a detailed order to follow. While this approval clears a key regulatory hurdle, it does not mean the transaction has been completed as it remains subject to applicable closing conditions.
GRT Jewellers announced on August 31, 2026, that it had signed a share purchase agreement with TBZ's promoters to acquire 4,94,59,775 equity shares for a consideration of up to ₹1,033.71 crore. As reported by CNBC TV18, the deal involves the acquisition of a majority stake in the listed jewellery retailer. Additionally, GRT has proposed an open offer to acquire an additional stake of around 26% in TBZ under Securities and Exchange Board of India (SEBI) regulations, giving eligible public shareholders an opportunity to sell their shares to the acquirer under applicable terms.
According to CNBC TV18, TBZ, founded in 1864, operates 37 stores across India and sells gold, diamond and other jewellery, along with having manufacturing facilities. GRT Jewellers, founded in 1964, operates 68 stores across India and one in Singapore, with its product range including gold, silver, diamond and platinum jewellery. The proposed acquisition would give GRT a majority stake in TBZ, adding the latter's retail network and established brand to its operations.
As reported by CNBC TV18, the final outcome of this proposed acquisition will depend on the completion of the transaction and the applicable conditions. The deal represents a significant consolidation in India's jewellery retail sector, combining GRT's extensive store network with TBZ's established brand and manufacturing capabilities to create a larger retail presence in the market.
