Garware Technical Fibres Limited has informed the Exchange about Certified True copy of the Resolution passed by the Board of Directors of the Company at its meeting held on May 08, 2026, approving the buyback.
GARFIBRES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Garware Technical Fibres Limited's Board has approved a buyback of up to 1,617,500 equity shares (1.63% of total paid-up capital) at INR 680 per share, for a total consideration not exceeding INR 110 crores. The buyback represents 9.46% and 9.35% of the company's standalone and consolidated free reserves respectively as of March 31, 2025. The buyback will be executed via the tender-offer route through the stock exchange mechanism, with the record date fixed as May 20, 2026. Promoters and promoter group have confirmed they will not participate in the buyback. The company has appointed Ambit as merchant banker, MUFG Intime as registrar, and Cyril Amarchand Mangaldas as legal counsel. Funding will come from internal cash, cash equivalents, proceeds from disposal of investments, and/or internal accruals — no borrowed funds will be used.
The buyback at INR 680 per share represents a significant cash return to participating shareholders and is positive for the stock, as it signals management confidence and should support the share price near term.