Garware Technical Fibres Limited has informed the Exchange about public Announcement - Buyback of Shares
GARFIBRES · price
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On the reaction day the stock moved 2.5 pts more than Nifty Microcap 250 and 1.1 pts more 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 Limited has announced a share buyback of up to 16,17,500 fully paid-up equity shares at INR 680 per share, totaling a maximum of INR 110 crore. The buyback will be conducted through a tender offer process on a proportionate basis. The record date for determining shareholder eligibility is May 20, 2026. Promoters and members of the promoter group have expressed their intention not to participate in the buyback, which means public shareholders will receive a higher entitlement ratio. The company has appointed Ambit Capital as the broker and MUFG Intime as the registrar for the buyback process.
Shareholders who tender their shares will receive INR 680 per share in cash, which is above market price if the current price is lower. The buyback reduces the total number of outstanding shares, potentially improving per-share metrics. Promoters not participating means public shareholders benefit more from this buyback.