GRT Jewellers launches ₹431 crore open offer for TBZ stake
pre-market1 source ↓written by the desknot a recommendation
- of Tribhovandas Bhimji
- 25.88%
- Zaveri TBZ
- ₹431 crore
- ₹249.61 per share
- to TBZ's recent
- 120% discount
- closing price
- ₹550.65
GRT Jewellers has initiated an open offer to acquire 25.88% of Tribhovandas Bhimji Zaveri (TBZ) for ₹431 crore, at ₹249.61 per share—a 120% discount to TBZ's recent closing price of ₹550.65. This follows GRT's acquisition of a 75% promoter stake in TBZ, aiming to enhance its market presence across India. 📈
The move is expected to impact TBZ's market capitalization of ₹3,497 crore and could influence trading sentiment in the jewellery sector.
Not investment advice. For informational purposes only.