Garware Technical Fibres Limited has informed the Exchange that Garware Technical Fibres Limited has made investment by way of subscription to 93,94,444 equity shares of GBP 1.00 each, for aggregate subscription value of GBP 93,94,444 to be issued by its wholly owned subsidiary namely Garware Technical Fibres UK Pvt. Ltd. UK (."GTF UK").
GARFIBRES · price
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Garware Technical Fibres Limited has invested GBP 93,94,444 (approximately ₹100 crore) by subscribing to 93,94,444 equity shares of its wholly owned UK subsidiary, Garware Technical Fibres UK Pvt. Ltd. (GTF UK), which was incorporated in March 2025. The purpose of this capital infusion is to enable GTF UK to acquire 100% of two Norwegian companies — Offshore and Trawl Supply AS (OTS) and Advanced Mooring Supply AS (AMS) — which operate in the offshore, trawl and mooring supplies business within the technical textile industry. Once completed (expected on or before July 31, 2025), OTS and AMS will become step-down wholly owned subsidiaries of Garware Technical Fibres. The consideration is fully in cash, no governmental approvals are required, and there will be no change in Garware's shareholding in GTF UK which remains 100% wholly owned.
This is a strategic overseas acquisition that expands Garware's footprint in the technical textile segment into Norway's offshore and mooring supply market. For shareholders, it signals growth ambition through inorganic expansion, but the deal adds execution risk and integration challenges in foreign markets. The investment is sizable and may modestly stretch the balance sheet, so investors should watch for completion updates and post-acquisition performance of OTS and AMS.