Garware Technical Fibres Limited has announced a strategic move to repurchase 1,617,500 equity shares through a tender offer route. Valued at ₹680 per share, the total buyback size amounts to ₹110 crores, representing 1.63% of the company’s total paid-up equity share capital. The company has set May 20, 2026, as the record date to determine eligible shareholders for the buyback participation.
Buyback Details and Pricing
The board of directors at Garware Technical Fibres Limited has officially approved the proposal for a share buyback. Shareholders are set to benefit from an offer price of ₹680 per equity share. The total expenditure for this initiative is capped at ₹110 crores, excluding incidental transaction costs and taxes. This capital allocation reflects approximately 9.46% of the company’s standalone paid-up capital and free reserves as of March 31, 2025.
Strategic Execution
The buyback will be executed via the tender offer route, utilizing the stock exchange mechanism. The company has clarified that the promoter and promoter group entities will not be participating in this buyback process. To oversee the execution of this initiative, the board has constituted a dedicated Buyback Committee empowered to handle all operational aspects and necessary filings associated with the program.
Shareholder Eligibility
For shareholders looking to participate in this buyback, the company has designated Wednesday, May 20, 2026, as the Record Date. Only those shareholders whose names appear on the company’s register as of this date will be eligible to receive the letter of offer and participate in the buyback process. This move follows a pre-buyback shareholding structure where the promoter group currently holds 53.36%, while public and institutional investors account for the remaining 46.64% of the equity.
Source: BSE
