Please find attached herewith outcome of Board Meeting held on May 08, 2026.
GARFIBRES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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 Ltd'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 maximum amount of INR 110 crores. The buyback will be conducted through the tender offer route using the stock exchange mechanism. Promoters and promoter group have expressed intention not to participate in the buyback. The record date for determining eligible shareholders has been fixed as May 20, 2026. A Buyback Committee has been constituted to handle the process.
The buyback at INR 680 per share is positive for minority shareholders as it provides an exit opportunity at a likely premium to market price. Non-participation by promoters means the benefit flows entirely to public shareholders.