GRT Jewellers India Pvt Ltd has announced a Rs 1,033 crore all-cash deal to acquire a 74% controlling stake in Tribhovandas Bhimji Zaveri (TBZ), triggering an open offer for public shareholders. The acquisition marks a major change in control for the 160-year-old Mumbai-based jeweller.
The searches were carried out on March 4 at 27 premises in Chennai, Mumbai, Coimbatore, Madurai, Tiruchirappalli, Thrissur, Nellore, Jaipur and Indore.
