Garware Technical Fibres Limited has informed the Exchange regarding Outcome of Board Meeting held on May 08, 2026.
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 Limited's board has approved a buyback of up to 1,617,500 equity shares (1.63% of paid-up capital) at INR 680 per share, totaling up to INR 110 crores. The buyback represents approximately 9.4% of the company's standalone and consolidated free reserves. The record date for determining eligible shareholders has been fixed as May 20, 2026. Promoters and promoter group have indicated they will not participate in the buyback, which will be executed through the tender offer route via stock exchange mechanism.
The buyback at INR 680 per share, if at a premium to market price, signals management confidence and provides an exit opportunity to minority shareholders at a premium. The exclusion of promoters ensures the benefit flows primarily to public shareholders.