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Jan 19, 2021 - Feb 2, 2021

Garware Technical Fibres Ltd Buyback (Garware Technical Buyback) Detail

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.

Garware Technical Buyback Detail

Issue PeriodJan 19, 2021 - Feb 2, 2021
Security NameGarware Technical Fibres Ltd
Issue TypeTender Offer
Issue Size (Shares)0.03 Crores
Issue Size (Amount)₹73.00 Crores
Buyback Price₹2300 per share
Face Value₹10 per share
Listing AtBSE, NSE

Garware Technical Buyback Issue Timetable

Offer Opens OnJan 19, 2021
Offer Closes OnFeb 2, 2021
Record DateDec 11, 2020
Last Date for receipt of Tender FormsFeb 4, 2021
Finalisation of Buyback AcceptanceFeb 10, 2021
Last Date for settlment of bidsFeb 11, 2021
Last Date for Extinguishment of SharesFeb 18, 2021

Buyback Ratio

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.

Company Financials

Summary of financial Information (Consolidated)
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

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Nov-2020 2298 1814 2055
Oct-2020 2250 1837 2032
Sep-2020 2204 1737 1960

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Nov-2020 2300 1812 2063
Oct-2020 2250 1835 2032
Sep-2020 2205 1751 1961

Necessity of the Issue

The Buyback is being undertaken by the company to return the surplus cash to the shareholders in an effective and efficient manner.

Garware Technical Buyback Documents

Garware Technical Buyback Rating

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Company Contact Information

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/

Garware Technical Buyback Registrar

  1. 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: http://www.linkintime.co.in

Garware Technical Buyback Manager

Lead Manager(s)

  1. Ambit Private Limited

Registered Broker

  1. Ambit Capital Private Limited
    Email: gtfl.buyback@ambit.co.in

Find Garware Technical Buyback Latest Update

Garware Technical Buyback FAQs

The Garware Technical Buyback opens on Jan 19, 2021, and closes on Feb 2, 2021.

The Garware Technical Buyback is a Tender Offer.

Garware Technical Buyback Schedule

Buyback Opening DateJan 19, 2021
Buyback Closing DateFeb 2, 2021
Last Date for receipt of Tender FormsFeb 4, 2021
Finalisation of Buyback AcceptanceFeb 10, 2021
Last Date for settlment of bidsFeb 11, 2021
Last Date for Extinguishment of SharesFeb 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 0.03 Crores 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.


2 Comments

2. Amit Pathak  Jan 27, 2021 15:22 I Like It. | Report Abuse Reply
Add upcoming buyback like nalco gail
1. P Patel  Jan 27, 2021 13:57 I Like It. | Report Abuse Reply
Good to have separate page for BuyBack...