Tribhovandas Bhimji Zaveri Concludes 19th AGM, Confirms Stake Sale Update

• Dividend: Rs 2.50 per share declared for FY 2025-26.
• Stake Sale: Entire promoter holding transfer to GRT Jewellers remains in progress.

Reader Takeaway: TBZ shareholders secure a dividend payout while the major ownership transition to GRT Jewellers moves forward under regulatory oversight.

What just happened

Tribhovandas Bhimji Zaveri (TBZ) successfully conducted its 19th Annual General Meeting (AGM) via video conferencing on 9th September 2026. Shareholders approved all key ordinary resolutions, including the adoption of FY 2025-26 financial statements and a dividend payout of Rs 2.50 per equity share of Rs 10 face value. Additionally, shareholders approved the reappointment of Ms. Raashi Zaveri and the commission structure for Non-Executive Directors.

Why this matters

The meeting served as a crucial update point for the company's significant corporate restructuring. Management confirmed that the share purchase agreement (SPA) involving the sale of the entire promoter stake to Chennai-based GRT Jewellers is proceeding. The process is currently tied to an open offer initiated by the acquirer as per SEBI Takeover Regulations.

Governance and Administration

The company confirmed a clean audit record for FY 2025-26, stating that Statutory and Secretarial Auditors provided no qualifications or negative comments. The e-voting process, conducted between 6th and 8th September, was overseen by scrutinizer Mr. Pramod S. Shah. Official results for the resolutions are expected to be filed with the exchanges within two working days.

What to track next

Investors should monitor official exchange disclosures regarding the status of the regulatory approvals required for the GRT Jewellers acquisition. Shareholders participating in the open offer should refer to the documentation provided in the August 31st disclosure for timelines and requirements.