Garware Technical Fibres Limited has announced a buyback of up to 16,17,500 equity shares, representing 1.63% of its total paid-up capital. The shares will be acquired through the tender offer process at a price of INR 680/- per share. The total value of the buyback is set at INR 110 crore. The buyback period opens on May 26, 2026, and is scheduled to close on June 2, 2026.
Buyback Details and Pricing
Garware Technical Fibres Limited is set to initiate a share buyback program as part of its strategy to return surplus cash to its shareholders and enhance overall shareholder value. The company plans to acquire up to 16,17,500 fully paid-up equity shares with a face value of INR 10/- each. The buyback price is fixed at INR 680/- per equity share, amounting to an aggregate maximum of INR 110 crore, excluding transaction costs.
Schedule and Participation
The buyback program will commence on Tuesday, May 26, 2026, and will remain open until Tuesday, June 2, 2026. The record date for determining the eligible shareholders was Wednesday, May 20, 2026. Eligible shareholders are entitled to participate in the buyback on a proportionate basis. Specific reservations have been made, with 33 equity shares reserved for every 299 shares held by small shareholders, and 27 equity shares for every 866 shares held by other eligible shareholders.
Financial Rationale and Impact
The buyback is being funded from the company’s existing cash reserves and internal accruals, with no borrowed funds utilized for this purpose. The company, which is a leading manufacturer of technical textiles, maintains a strong financial position, with a debt-to-equity ratio that remains well within the prescribed limits. The board believes that this buyback will optimize returns to its investors and improve the company’s long-term earnings per share, without impacting its capacity to pursue future growth opportunities.
Source: BSE
