Garware Technical Fibres Limited has announced a share buyback program of up to 1,617,500 equity shares at a price of ₹680 per share. The total aggregate size of the buyback is ₹110 crore, representing approximately 1.63% of the company’s total paid-up equity share capital. The initiative will be executed through the tender offer route for all eligible shareholders.
Strategic Buyback Initiative
On May 8, 2026, the board of directors of Garware Technical Fibres Limited approved a proposal to repurchase equity shares from the open market. This buyback is set at a price of ₹680 per share, reflecting the company’s commitment to delivering value to its shareholders. The aggregate amount for this transaction is capped at ₹110 crore, excluding incidental transaction costs.
Key Details and Eligibility
The company has set May 20, 2026, as the Record Date to determine which shareholders are eligible to participate in the tender offer. The promoters and the promoter group have formally expressed their intention not to participate in this buyback process, thereby increasing the availability for public shareholders. The shares to be bought back represent 1.63% of the total paid-up capital of the company.
Execution and Oversight
To oversee the execution of the buyback, the board has constituted a dedicated Buyback Committee. This committee is vested with the authority to manage all necessary actions and procedures to ensure the process is completed in compliance with the prescribed financial guidelines. The current shareholding structure shows the promoter group holding 53.36%, while public and institutional investors account for the remainder of the equity.
Source: BSE
