Garware Technical Fibres Limited has informed the Exchange about Copy of Public Announcement published in Newspaper.
GARFIBRES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Garware Technical Fibres Limited has published a public announcement for a buyback of up to 16,17,500 equity shares (representing approximately 16.3% of total shares) worth up to Rs. 110 crore. The buyback price and exact date have not been specified in this filing. The Record Date for determining eligible shareholders is May 20, 2026. The buyback is being implemented through BSE using the stock exchange mechanism, with Ambit Capital as the merchant broker and MUFG Intime India as the registrar. Promoters and promoter group members have explicitly expressed their intention NOT to participate in the buyback, which means the entitlement ratio for public shareholders will be higher. Additionally, 15% of the buyback is reserved for small shareholders holding shares valued at up to Rs. 2 lakh as on the record date. The statutory auditor has confirmed the buyback amount of Rs. 11,000 lakh is within the permissible limit of Rs. 11,626.47 lakh based on standalone financials as of March 31, 2025.
This buyback is positive for minority shareholders as promoters are not participating, meaning public shareholders will receive a higher entitlement ratio. Shareholders who wish to exit can tender their shares at the buyback price (to be determined). The company appears cash-rich with free reserves of over Rs. 1,000 crore.