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April 1, 2024 - April 5, 2024

Garware Technical Fibres Limited Buyback (Garware Technical Fibres Buyback 2024) Detail

Founded in 1976, Garware Technical Fibres (GTF) is a technical textiles company that manufactures ropes, tarpaulins, and nets.The company is known for its innovative solutions for aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabrics, synthetic ropes, and geosynthetics.

GTF's products are used in fisheries, aquaculture, shipping, sports, agriculture, coated fabrics, and geo-synthetics segments. The company's IR Nylon rope is designed to provide elasticity and shock absorption, making it suitable for applications where durability is essential.

The company has six offices abroad and has a presence in 75 countries. The company has 27 patents granted under its name.

The company has received certification of ISO 9001: 2015 and ISO 14001-2015 from BVC, UK.

Garware Technical Fibres Buyback 2024 Detail

Issue PeriodApril 1, 2024 - April 5, 2024
Security NameGarware Technical Fibres Limited
Issue TypeTender Offer
Issue Size (Shares)525,000
Issue Size (Amount)₹199.50 Crores
Buyback Price₹3800 per share
Face Value₹10 per share
Listing AtBSE, NSE

Garware Technical Fibres Buyback 2024 Issue Timetable

Last Date to buy sharesMarch 22, 2024
Record DateMarch 26, 2024
Offer Opens OnApril 1, 2024
Last Date for receipt of Tender FormsApril 5, 2024
Offer Closes On *April 5, 2024
Finalisation of Buyback AcceptanceApril 12, 2024
Last Date for settlment of bidsApril 15, 2024
Last Date for Extinguishment of SharesApril 25, 2024
* Last Date to Tender shares on Zerodha : April 4, 2024

Buyback Ratio

CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders2 Equity Shares out of every 13 Fully paid-up Equity Shares held on the Record Date.78,750.00
General Category for all other Eligible Shareholders2 Equity Shares out of every 89 Fully paid-up Equity Shares held on the Record Date.446,250.00

Company Financials

Garware Technical Fibres Limited Financial Information (Restated Consolidated)

Garware Technical Fibres Limited's revenue increased by 9.75% and profit after tax (PAT) rose by 4.5% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,493.171,415.081,318.88
Revenue673.401,333.451,214.941,069.24
Profit After Tax95.44172.20164.78158.40
Reserves and Surplus1,003.36970.49814.92
Amount in ₹ Crore

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Dec-2023 3,478.95 3,219.65 3,352.05
Nov-2023 3,429.15 3,100.00 3,200.69
Oct-2023 3,285.00 3,028.70 3,158.03

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Dec-2023 3,463.85 3,227.00 3,353.59
Nov-2023 3,423.00 3,078.40 3,202.36
Oct-2023 3,289.00 3,026.55 3,157.98

Necessity of the Issue

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, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve the allocation of the number of Equity Shares as per their entitlement or 15% of the number of Equity Shares to be bought back whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would be classified as "small shareholders" as per Regulation 2(i)(n) of the SEBI Buyback Regulations;
  3. The Buyback may help in improving its earnings per share and return on equity, by reduction in the equity base, thereby leading to a long-term increase in shareholders' value; and
  4. The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.

Garware Technical Fibres Buyback 2024 Documents

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Company Contact Information

Garware Technical Fibres Limited
Plot No. 11, Block D-L
M.I.D.C.,Chinchwad,
Pune-411 019,

Phone: +91 20 2799 0000
Email: pune_admin@garwarefibres.com
Website: https://www.garwarefibres.com/

Garware Technical Fibres Buyback 2024 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: garware.buyback2024@linkintime.co.in
    Website: https://linkintime.co.in/initial_offer/public-issues.html

Garware Technical Fibres Buyback 2024 Manager

Lead Manager(s)

  1. Motilal Oswal Investment Advisors Limited

Registered Broker

  1. Motilal Oswal Financial Services Limited
    Email: ksharma@motilaloswal.com

Find Garware Technical Fibres Buyback 2024 Latest Update

Garware Technical Fibres Buyback 2024 FAQs

The Garware Technical Fibres Buyback 2024 opens on April 1, 2024, and closes on April 5, 2024.

Last date to be eligible to participate in buyback is March 22, 2024.

The Garware Technical Fibres Buyback 2024 is a Tender Offer.

Garware Technical Fibres Buyback 2024 Schedule

Buyback Opening DateApril 1, 2024
Buyback Closing DateApril 5, 2024
Last Date for receipt of Tender FormsApril 5, 2024
Finalisation of Buyback AcceptanceApril 12, 2024
Last Date for settlment of bidsApril 15, 2024
Last Date for Extinguishment of SharesApril 25, 2024

The Garware Technical Fibres Buyback 2024 is being offered at Rs ₹3800 per share per equity share.

CategoryEntitlement Ratio of BuybackShares Offered
Reserved Category for Small Shareholders2 Equity Shares out of every 13 Fully paid-up Equity Shares held on the Record Date.78,750.00
General Category for all other Eligible Shareholders2 Equity Shares out of every 89 Fully paid-up Equity Shares held on the Record Date.446,250.00

The record date for the Garware Technical Fibres Buyback 2024 is March 26, 2024.

The issue size of Garware Technical Fibres Buyback 2024 is of 525,000 equity shares at ₹3800 per share aggregating upto ₹199.50 Crores.

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, which is being implemented through the tender offer route as prescribed under the SEBI Buyback Regulations, would involve the allocation of the number of Equity Shares as per their entitlement or 15% of the number of Equity Shares to be bought back whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would be classified as "small shareholders" as per Regulation 2(i)(n) of the SEBI Buyback Regulations;
  3. The Buyback may help in improving its earnings per share and return on equity, by reduction in the equity base, thereby leading to a long-term increase in shareholders' value; and
  4. The Buyback gives an option to the shareholders holding Equity Shares of the Company, who can choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback offer or they may choose not to participate and enjoy a resultant increase in their percentage shareholding, post the Buyback offer, without additional investment.

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 Fibres Buyback 2024 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.


20 Comments

20. Abhi   I Like It. 1|  Link|April 21, 2024 3:15:20 AM
Payment not received buyback m accept ho gya hai share bank m bhi credit nhi hua jo linked h demat se nd wallet m bhi nhi
Kha pr complaint kre kaise milega payment??
Please help
20.4. rajib     Link|May 2, 2024 11:31:22 AM
Mila payment?
20.5. Rajiib     Link|May 5, 2024 7:09:52 PM
Garware buyback ka paisa mila kisiko ?
19. VinShan     Link|April 12, 2024 5:58:46 PM
1 out of 1 share accepted.
19.4. rajib     Link|April 27, 2024 8:13:57 PM
Payment not received
19.5. RoK     Link|April 27, 2024 10:30:43 PM
@UKS, Yes, I received the payment on 15th April.

In the email they have written this -

"... if the fund transfer instruction is rejected by the Reserve Bank of India or relevant Bank, due to any reasons, then the amount payable to you will be transferred to your broker’s settlement bank account for onward transfer to you"

So check with your broker.
18. Bhavesh     Link|April 15, 2024 2:03:19 PM
3/3 accepted
18.1. UKS     Link|April 25, 2024 12:48:46 PM
Did you receive the payment in account?
17. Parth     Link|April 18, 2024 10:43:02 AM
Hi, One of my two shares in the same account were accepted for buyback but still both the shares are under lock-in. Any reason for the same?
16. CAAnil     Link|April 18, 2024 12:05:00 AM
I had applied through two accounts for single share, and in both shares were not accepted.
15. Garware     Link|April 16, 2024 10:20:08 PM
I have 4 accounts and all have 1 share but not a single account accepted buyback. Any reason ? Please confirm. Is there any issue with account ?
15.1. vibhor saxena     Link|April 17, 2024 1:14:50 PM
ASK YOUR BROKER THEY CAN HELP
OTHERWISE ALL MUST HAVE BEEN ACCEPTED
14. Namaste     Link|April 16, 2024 11:03:27 PM
In all my 4 accounts no share acceoted. I was having 1 share in all on record date and placed in buyback on time as well. Can anyone help.
13. vibhor saxena     Link|April 15, 2024 5:47:02 PM
all 10/10 accepted
13.1. ravijai     Link|April 15, 2024 11:59:11 PM
Just wanted to know, how do you maintain 10 accounts. You need to have 10 different bank accounts and demats. Also need to pay yearly charges etc
13.2. vibhor saxena     Link|April 16, 2024 2:26:55 PM
5 accounts of my family members
5 accounts of my friends
all have bank accounts
yearly Bajajauto Like)
12. Nilesh patil     Link|April 13, 2024 8:16:43 PM
5/5 one share strategy working fine.
11. LatestNews     Link|April 13, 2024 12:37:08 PM
How to check how many accepted?
11.1. RoK     Link|April 13, 2024 6:11:40 PM
I think there is no way to check. You will get message from your broker.
I got an SMS and an email with contract note.
10. om C     Link|February 15, 2024 1:30:08 PM
does one share strategy will work for this buyback
10.2. Shivoham   I Like It. 2|  Link|March 20, 2024 5:27:52 PM
Why No ? there are 38000 Share holders and 78000 shares are for retail ( if we assume 15% retail quota)
10.3. Jaaay Shaah     Link|April 12, 2024 5:46:15 PM
These days people will purchase shares only for buyback. Hence existing shareholder number won't give exact numbers.
9. Satish Chavda     Link|April 7, 2024 1:32:22 PM
How many Times bayback figure share please
9.1. Syan     Link|April 9, 2024 1:02:54 PM
Garware share buyback accept share payment anyone received please reply me thanks
8. RoK     Link|March 28, 2024 1:44:08 PM
Opening date: 01 April 2024
Closing date: 05 April 2024
Price on record date ₹3341.08 NSE
Retail max shares 59
Retail ER 15.44% or 2 for every 13 shares
8.6. vibhor saxena     Link|April 1, 2024 4:32:28 PM
@Venkat ji please check under portfolio tab I have applied today from zerodha
8.7. Bull always     Link|April 4, 2024 3:47:02 PM
When the results will come?? Any idea of date. Tomorrow 5 April going to close
7. Shah     Link|March 6, 2024 9:30:24 AM
Any idea on Accepted ratio for retail ?
6. Jai ho IPO     Link|February 25, 2024 4:00:31 PM
If price falls below 3200 I may participate in this buyback
5. YUGAL LUDHIANA     Link|February 20, 2024 3:06:49 PM
CHANGE IN RECORD DATE
the record date is changed from Tuesday, March 12,2024 to Tuesday, March 26, 2024.
4. TalktoVivek     Link|February 18, 2024 3:01:17 AM
Should we apply for this ?
3. YUGAL LUDHIANA   I Like It. 1|  Link|February 12, 2024 5:02:32 PM
the Company has fixed
Tuesday, March 12, 2024

ACCORDING TO BSE Corporate Announcements
2. investormahesh     Link|February 12, 2024 12:04:19 PM
On another website record date is 12th March. What is correct record date?
1. Uttam     Link|February 11, 2024 2:43:52 PM
@admin Chittorgarh you opened double page for same buyback

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