National News
Gold imports up 40.79 pc to USD 2.68 bn in Jan
The country’s gold imports in January rose by 40.79 per cent to USD 2.68 billion on account of increasing domestic demands, according to commerce ministry data.Gold imports stood at USD 1.9 billion in January 2024.Cumulatively, imports during April-January this fiscal year rose 32 per cent to USD 50 billion against USD 37.85 billion in the same period last fiscal year.
The increase in imports also indicates strong investor confidence in the precious metal as a safe asset. The other reasons include asset diversification towards gold due to global uncertainties, increasing demand from banks, and cut in customs duties.Prices of the yellow metal have increased 11 per cent so far this year to ₹88,200 per 10 gram in the national capital.
National News
GRT Jewellers Bets Big on TBZ to Acquire 74% for ₹1,034 Crore
The deal, signed on August 31, 2026, values the transaction at up to ₹209 per share and marks a significant reshaping of India’s organised jewellery retail landscape.The transaction will give GRT sole control of TBZ, including the right to appoint nominee directors.
In a landmark consolidation move, GRT Jewellers is set to take control of Tribhovandas Bhimji Zaveri (TBZ), acquiring a 74.12% promoter stake for up to Rs.1,034 crore. The deal, signed on August 31, 2026, values the transaction at up to ₹209 per share and marks a significant reshaping of India’s organised jewellery retail landscape.
GRT Jewellers (India) Private Limited will acquire the entire stake held by TBZ’s promoter group, including Shrikant Gopaldas Zaveri (50.06%), Bindu Shrikant Zaveri (5.24%), Binaisha Shrikant Zaveri (7.92%), Raashi Shrikant Zaveri (6.85%) and two promoter-group entities holding 2.02% each.
The acquisition will trigger a mandatory open offer for the remaining public shareholding, with GRT set to launch an offer for up to 26% of TBZ’s equity in accordance with applicable SEBI regulations.
The transaction will give GRT sole control of TBZ, including the right to appoint nominee directors. The existing promoter directors—Shrikant Gopaldas Zaveri, Binaisha Shrikant Zaveri and Raashi Shrikant Zaveri—are expected to step down following completion.
For TBZ, one of India’s oldest and most recognised jewellery brands, the deal signals a major transition from promoter-led ownership to strategic control by one of the country’s prominent jewellery players. For GRT, it represents an ambitious expansion of its footprint and a potentially transformative bet on TBZ’s established brand equity, retail network and customer franchise.
The deal could emerge as one of the most significant strategic moves in India’s organised jewellery sector, underscoring the accelerating consolidation of a market where scale, brand strength and retail reach are becoming increasingly decisive.
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National News3 hours agoGRT Jewellers Bets Big on TBZ to Acquire 74% for ₹1,034 Crore
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