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Incorporated in 1976, Garware Technical Fibres Limited is one of India's leading players in the technical textiles sector. The company is known for providing world-class innovative solutions in high-performance aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabrics, polymer ropes, and geosynthetics.
As of Jan 2021, Garware Technical four subsidiaries, one in Chile, one in the United States of America, and two in India. The Company has two manufacturing plants - one at Chinchwad and the other at Wai. Further, the Company has 4 (four) regional offices and 14 (fourteen) offices/depots in India to serve its customers. The company has a global presence with six overseas offices and customers in over 75 countries.
Garware Technical is the pioneer of synthetic cordage in India. The R&D Unit of the company is recognized by the Department of Science & Technology, Government of India. The company carries a strong credit rating of 'AA' indicating strong financial ability. The company has been awarded the Star Export House for many years.
| Issue Period | Jan 19, 2021 - Feb 2, 2021 |
| Security Name | Garware Technical Fibres Ltd |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 317,391.00 |
| Issue Size (Amount) | ₹73.00 Crores |
| Buyback Price | ₹2300 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Record Date | Dec 11, 2020 |
| Offer Opens On | Jan 19, 2021 |
| Last Date for receipt of Tender Forms | Feb 4, 2021 |
| Offer Closes On | Feb 2, 2021 |
| Finalisation of Buyback Acceptance | Feb 10, 2021 |
| Last Date for settlment of bids | Feb 11, 2021 |
| Last Date for Extinguishment of Shares | Feb 18, 2021 |
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 38 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 4 Equity Shares out of every 305 Equity Shares held on the Record Date. |
| Particulars | For the year/period ended (Rs in Million) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Revenue | 9,852.74 | 10,389.01 | 9,034.25 |
| Profit After Tax | 140.51 | 1,256.80 | 1,051.73 |
| Reserves and Surplus | 7,172.40 | 6,284.64 | 5,184.77 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2020 | 2,298.00 | 1,814.00 | 2,055.00 |
| Oct-2020 | 2,250.00 | 1,837.00 | 2,032.00 |
| Sep-2020 | 2,204.00 | 1,737.00 | 1,960.00 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2020 | 2,300.00 | 1,812.00 | 2,063.00 |
| Oct-2020 | 2,250.00 | 1,835.00 | 2,032.00 |
| Sep-2020 | 2,205.00 | 1,751.00 | 1,961.00 |
The Buyback is being undertaken by the company to return the surplus cash to the shareholders in an effective and efficient manner.
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Garware Technical Fibres Ltd
Plot No. 11, Block D-1,
MIDC, Chinchwad, Pune – 41
Phone: +91 020 2799 0224
Email: secretarial@garwarefibres.com
Website: https://www.garwarefibres.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: gtfl.buyback@linkintime.co.in
Website: https://linkintime.co.in/
Lead Manager(s)
Registered Broker
The Garware Technical Buyback opens on Jan 19, 2021, and closes on Feb 2, 2021.
The Garware Technical Buyback last day to buy is not available as of now.
The Garware Technical Buyback is a Tender Offer.
Garware Technical Buyback Schedule
| Buyback Opening Date | Jan 19, 2021 |
| Buyback Closing Date | Feb 2, 2021 |
| Last Date for receipt of Tender Forms | Feb 4, 2021 |
| Finalisation of Buyback Acceptance | Feb 10, 2021 |
| Last Date for settlment of bids | Feb 11, 2021 |
| Last Date for Extinguishment of Shares | Feb 18, 2021 |
The Garware Technical Buyback is being offered at Rs ₹2300 per share per equity share.
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 38 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 4 Equity Shares out of every 305 Equity Shares held on the Record Date. |
The record date for the Garware Technical Buyback is Dec 11, 2020.
The issue size of Garware Technical Buyback is of 317,391.00 equity shares at ₹2300 per share aggregating upto ₹73.00 Crores.
The Buyback is being undertaken by the company to return the surplus cash to the shareholders in an effective and efficient manner.
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.
The Garware Technical 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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