Announced Mon, 31 Aug · 17:06 IST
Promoters to sell 74.12% stake to GRT Jewellers; open offer to follow
TBZ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+36.4%1-day move
₹304.40
prior close
₹315.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+10.7+16.4+11.7+16.4+36.4+48.9+58.0+73.8+82.4+64.7————
Up moveDown movePending
AI summary
Promoters of Tribhovandas Bhimji Zaveri (TBZ) have signed a deal to sell 4.94 crore shares (74.12% stake) to GRT Jewellers (India) at up to Rs 209 per share. Post-completion, promoters will fully exit, GRT will gain sole control, and TBZ will become a subsidiary. A mandatory open offer to public shareholders will follow. Three promoter directors to resign. Subject to regulatory approvals.
Likely market impact
Change of control at TBZ. Promoters exiting fully. Mandatory open offer expected at about Rs 209. Expect volatility until deal and open offer complete.