Pursuant to Regulation 7 of the SEBI Buyback Regulations, we wish to inform you that the Company has published a public announcement dated May 11, 2026 for the Buyback ("Public Announcement") ....
GARFIBRES · price
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Garware Technical Fibres Ltd has announced a buyback of up to 16,17,500 equity shares (approximately 6.20% of total paid-up capital) at INR 680 per share, for a total consideration not exceeding INR 110 crore (approximately 9.45% of total paid-up capital and free reserves as per March 2025 financials). The buyback is through the tender offer process via the BSE stock exchange. Record date for determining eligible shareholders is May 20, 2026. Promoters have expressed intention not to participate in the buyback. The company has appointed Ambit Capital as the broker and MUFG Intime India as the Registrar. 15% of the buyback is reserved for small shareholders (those holding shares valued at not more than INR 2 lakh on the record date). Payment will be made in cash and shares will be extinguished post buyback.
Shareholders who tender their shares will receive INR 680 per share in cash. The buyback reduces the company's equity base and is expected to support the stock price given the cash outflow. Promoters not participating means public shareholders will have higher entitlement ratios.