The Competition Commission of India cleared a key regulatory hurdle for GRT Jewellers, allowing the jewellery retailer to move the proposed acquisition of TBZ closer to completion.
GRT signed a share purchase agreement on Aug 31, agreeing to buy 4,94,59,775 shares from TBZ promoters for up to ₹1,033.71 crore, subject to customary closing conditions.
The deal also includes an open offer under SEBI rules, enabling public shareholders to sell up to 26% of TBZ shares, a move that could significantly broaden GRT’s retail footprint.
TBZ, operating 37 stores under the “TBZ The Original” brand, and GRT, with 68 outlets plus a Singapore presence, together form a combined network that could command a larger share of India’s gold‑and‑diamond market.
Investors will watch for the next filing from CCI, which will detail any further requirements, and for GRT’s announcement of the open offer terms.
The acquisition is expected to bolster GRT’s balance sheet, potentially reducing debt and improving liquidity, while also positioning the company for a stronger foothold in the increasingly consolidated jewellery sector.