National News
Saurabh Gadgil launches JYPL 2025, JYPL Auction at a dazzling evening of celebration and competition
It was an evening of pomp and splendour at The White Resort and Spa Pawna, Lonavala to celebrate the launch of Jewellery Youth Premier League (JYPL) Season 8 and kick off the JYPL Auction. It was made all the more special with an icon of the jewellery industry, Dr. Saurabh Gadgil, CMD, PNG Jewellers, gracing the event with his distinguished presence. His heartfelt address at the launch encouraged and motivated the organizers and participating teams.The JYPL Auction was conducted on par with global sports auctions, providing a large dose of excitement and tension.
JYPL Season 8 will take place from March 5-9, 2025 at Central Railway Ground, Parel, Mumbai. The exciting tournament will see 260 players (all owners representing the jewellery industry) and 300+ companies associated with the industry. Over 2500 attendees are expected to catch all the action.
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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