Garware Technical Fibres Limited has officially published its post-buyback public announcement, detailing the completion of its equity share buyback program. The announcement confirms the buyback of 16,17,500 shares at a price of INR 680/- per share, totaling approximately INR 109.99 crore. The company has finalized the settlement of bids and is proceeding with the extinguishment of the repurchased shares.
Garware Technical Fibres Finalizes Share Buyback Announcement
Garware Technical Fibres Limited has officially issued a post-buyback public announcement, confirming the successful conclusion of its share repurchase program. This announcement follows the company’s earlier public announcement dated May 11, 2026, and the Letter of Offer dated May 22, 2026.
Buyback Details
The buyback involved the repurchase of up to 16,17,500 equity shares, each with a face value of INR 10, at a price of INR 680/- per share. This tender offer process was conducted in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, and the Companies Act, 2013.
The total amount utilized for the buyback, excluding transaction costs, amounted to approximately INR 109,99,00,000/-. The buyback was implemented through the stock exchange mechanism, with BSE Limited serving as the designated stock exchange.
Shareholder Participation and Settlement
The registrar for the buyback processed 5,261 valid applications for 49,80,389 equity shares, resulting in an oversubscription of approximately 3.08 times the number of shares proposed for buyback. The tendering period for the buyback commenced on Tuesday, May 26, 2026, and concluded on Tuesday, June 02, 2026.
Settlement of all valid bids was completed on Tuesday, June 09, 2026. Funds were disbursed directly to eligible shareholders, with provisions made for cases where bank details were unavailable or rejected. Equity shares accepted under the buyback were transferred to the company’s Demat account on the same day.
Capital Structure and Shareholding Post-Buyback
The capital structure of the company has been adjusted post-buyback. The issued, subscribed, and paid-up share capital has reduced from INR 99,26,58,450/- (9,92,65,845 equity shares) to INR 97,64,83,450/- (9,76,48,345 equity shares).
Significant shareholders who had shares accepted in the buyback include Ashoka WhiteOak ICAV, Kotak Small Cap Fund, and Abu Dhabi Investment Authority, among others. The shareholding pattern also reflects changes, with the promoter’s shareholding percentage increasing slightly post-buyback.
Extinguishment of Shares
The extinguishment of the 16,17,500 equity shares accepted under the buyback is currently in process and is expected to be completed on or before Thursday, June 18, 2026.
Source: BSE
