Garware Technical Fibres Limited has informed the Exchange regarding 'Submission of letter of offer dated May 22, 2026 ("Letter of Offer) in relation to the buyback of not exceeding 16,17,500 (Sixteen Lakhs Seventeen Thousand Thousand Five Hundred) fully paid-up equity shares of face value of INR 10/- (Rupees Ten only) each (the "Equity Shares") of Garware Technical Fibres Limited (the "Company") at a price of INR 680/- (Rupees Six Hundred and Eighty Only) per Equity Share through the tender offer process, pursuant to the provisions of the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended and the Companies Act, 2013, as amended ("Buyback")'.
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Garware Technical Fibres Limited has submitted its Letter of Offer for a buyback of up to 16,17,500 fully paid-up equity shares (1.63% of total paid-up capital) at INR 680 per share through the tender offer process. The maximum buyback amount is INR 110 crore, representing 9.46% of standalone and 9.35% of consolidated free reserves as of March 31, 2025. The record date is May 20, 2026, with the buyback window running from May 26 to June 2, 2026. Small shareholders receive 33 shares for every 299 held, while general category shareholders receive 27 shares for every 866 held. Promoters have confirmed they will not participate in the buyback.
The buyback offers shareholders a cash exit opportunity at INR 680 per share. With promoters staying out, the buyback is primarily directed at minority shareholders who can choose to tender their shares at the offer price.