Board of Directors at their meeting held on May 08, 2026 apprved the Buyback of upto 1,617,500 fully paid up equity shares of the company at a price of INR 680 per equity shares for an ....
GARFIBRES · price
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On the reaction day the stock moved 3.3 pts less than Nifty Microcap 250 and 3.2 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Garware Technical Fibres Ltd's board has approved a buyback of up to 1,617,500 fully paid-up equity shares (1.63% of total paid-up capital) at INR 680 per share. The total buyback size is capped at INR 110 crores, representing about 9.4% of the company's fully paid-up equity share capital and free reserves. The buyback will be conducted via the tender offer route through the stock exchange mechanism. Promoters and promoter group have expressed their intention not to participate in the buyback. The record date for determining eligible shareholders has been fixed as May 20, 2026.
The buyback signals management confidence in the company's fundamentals, as it offers shareholders a premium over market price. The exclusion of promoters increases the likelihood of retail shareholders benefiting from this offer. The stock may see positive movement due to the implicit support from the buyback price.