Garware Technical Fibres Limited has announced a board-approved share buyback program for up to 1,617,500 equity shares. The buyback will be executed at a price of INR 680 per share, with a total buyback size not exceeding INR 110 crore. This initiative represents 1.63% of the company’s total paid-up equity share capital. The process will be conducted via the tender offer route, with the record date set for May 20, 2026.
Buyback Program Details
The board of directors has greenlit a strategic buyback of 1,617,500 fully paid-up equity shares. Shareholders are being offered INR 680 per share, which accounts for an aggregate value of INR 110 crore. This buyback represents approximately 9.46% of the company’s standalone and 9.35% of the consolidated fully paid-up equity capital and free reserves as of March 31, 2025.
Execution and Eligibility
The buyback will be executed through the tender offer route, utilizing the stock exchange mechanism. The company has officially designated May 20, 2026, as the Record Date. Only those shareholders listed as beneficial owners on this date will be eligible to participate in the buyback offer. Notably, the company has confirmed that the promoter group intends to abstain from participating in this buyback event.
Shareholding Context
As of March 31, 2026, the pre-buyback shareholding structure shows the promoters holding a 53.36% stake. Foreign investors account for 10.73%, while financial institutions and banks hold 10.28%. The remaining 25.63% is held by public shareholders and corporate bodies. A dedicated Buyback Committee has been constituted to oversee the necessary procedural requirements and ensure the smooth completion of the capital allocation process.
Source: BSE
