Garware Technical Fibres Limited has informed the Exchange that Record date for the purpose of Buyback is 20-May-2026.
GARFIBRES · price
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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 total paid-up capital) at INR 680 per share for a total amount not exceeding INR 110 crores. The buyback will be conducted via the tender offer route through the stock exchange mechanism. Promoters and promoter group have confirmed they will NOT participate in the buyback, meaning the benefit will flow entirely to public shareholders. The record date for determining eligible shareholders is fixed as May 20, 2026. A Buyback Committee has been constituted to oversee the process.
The buyback at INR 680 per share is positive for public shareholders as it provides an exit opportunity at a likely premium to market price, while promoters have chosen to forgo participation.