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Garware Technical Fibres Buyback Detail
Buyback Record Date Nov 4, 2022
Buyback Open Date Dec 5, 2022
Buyback Closing Date Dec 16, 2022
Issue Size (Shares) 0.02 Crores
Issue Size (Amount) ₹90.00 Crores
Buyback Price ₹3750 per Share

Garware Technical Fibres Buyback Date & Price FAQs

The Garware Technical Fibres Buyback price is set at Rs 3750 Per Share. The Garware Technical Fibres Buyback opens on Dec 5, 2022 and closes on Dec 16, 2022.

The Tender Form is a part of the Letter of Offer. It is sent via email to the eligible shareholders on their registered email ids with the depositories/the Company.

In case the email id is not registered, the Tender form/Letter of Offer is sent via registered post/speed post/courier to the eligible shareholders as on record date.

Alternatively, the Tender Form and Letter of Offer can also be accessed from the websites of the Company, the Registrar to the Buyback, the Stock Exchanges, or the Manager to the Buyback.

The Letter of Offer for Garware Technical Fibres Buyback can be download here.

All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.

The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.

The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.

The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.

Necessity of the Issue:

The Buyback is being undertaken, inter-alia, for the following reasons:

1. The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares broadly in proportion to their shareholding, thereby, enhancing the overall return to shareholders.

2. The Buyback may help in improving the Company's return on equity, by the reduction in the equity base, thereby leading to a long-term increase in shareholders' value.

The Garware Technical Fibres Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one’s need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.


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