Trilegal and AZB & Partners advised on GRT Jewellers’ acquisition of a 74.12% stake in Tribhovandas Bhimji Zaveri Limited (TBZ).
GRT Jewellers (India) Private Limited (GRT) proposed to acquire a 74.12% stake in TBZ – The Original, a listed company, from its promoters and members of the promoter group, subject to approval from the Competition Commission of India and completion of identified conditions precedent.
Pursuant to the proposed acquisition, GRT has initiated a mandatory open offer to the public shareholders of TBZ to acquire up to 25.88% of the total equity share capital of TBZ.
The transaction is the second-largest M&A transaction in the Indian jewellery industry to date. The acquisition will provide GRT access to TBZ’s retail network of 37 stores across India, along with the TBZ brand and its associated intellectual property, thereby accelerating GRT’s objective of becoming a pan-India jewellery retailer.
Trilegal advised GRT Jewellers India Private Limited in connection with its proposed acquisition of a 74.12% stake in TBZ.
The Corporate team was led by Partners Ashwyn Misra and Deep Choudhuri, and supported by Senior Associates Teeshta Bissa and Jatin Sharma, and Associates Anuraag Pillai, Shubhangi Singh, Niti Gosrani, Rohit Krishna and Anthara N.
The Employment team was led by Partner Kanishka Maggon and Associate Abhijeet Singh.
The Intellectual Property team was led by Partner Kirti Balasubramanian and Associate Paarth Samdani.
The Real Estate team was led by Partner Rahul Arora and comprised Senior Associate Yashasvi Gupta, and Consultants Virendra Bapat, Meghana Reddy Pulugu and Shivek Jhanda.
The Competition team was led by Partner Gautam Chawla and supported by Counsel Ankush Walia, Senior Associate Madhav Kapoor, and Associates Archit Jain and Shambhavi Sirothia.
AZB & Partners advised TBZ – The Original and the Zaveri family on the sale of a 74.12% stake to GRT Jewellers (India) Private Limited and the consequent open offer.
The team included Darshika Kothari, Abhilash Chandran, Arnav Shah, Mridula Sriram, Anshul Kumar Sarma, Vasudha Asher, Nandan Pendsey, Esq., Rhea Ghanshani, Nishanth Ravindran, Payaswini Rai, Nikunj Maheshwari, Roshni Shinde, Kirthi Srinivas, Ashna Mahajan, Ruchit Parikh, Jay Shah, Prerak Ved, Akash Kumar Prasad and Vibhuti Kaushik.
