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Dec 5, 2022 - Dec 16, 2022

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

Established in 1976, Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.) is one of India's leading players in the technical textiles sector. The company has a global presence with customers spread across 75 countries. The company offers solutions for Fisheries, Aquaculture, Shipping, Yarns & Thread, Sports, Coated fabric, agriculture and Geosynthetics.

The company is a multi-divisional, multi-geographical technical textiles company and 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.

Garware Technical Fibres Buyback Detail

Issue PeriodDec 5, 2022 - Dec 16, 2022
Security NameGarware Technical Fibres Limited
Issue TypeTender Offer
Issue Size (Shares)240,000.00
Issue Size (Amount)₹90.00 Crores
Buyback Price₹3750 per share
Face Value₹10 per share
Listing AtBSE, NSE

Garware Technical Fibres Buyback Issue Timetable

Offer Opens OnDec 5, 2022
Offer Closes OnDec 16, 2022
Record DateNov 4, 2022
Last Date for receipt of Tender FormsDec 16, 2022
Finalisation of Buyback AcceptanceDec 26, 2022
Last Date for settlment of bidsDec 27, 2022
Last Date for Extinguishment of SharesJan 3, 2023

Buyback Ratio

Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 3 Equity Share out of every 41 Fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 1 Equity Shares out of every 99 Fully paid-up Equity Shares held on the Record Date.

Company Financials

Garware Technical Fibres Limited Financial Information (Restated)
Period EndedTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-20985.27140.53739.12717.24132.54
31-Mar-211069.24158.4811.11790.49101.81
31-Mar-221214.94164.78970.59949.9779.57
Amount in ₹ Crore

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Sep-2022 3752.55 3250.25 3491.78
Aug-2022 3560 2990 3180.46
Jul-2022 3465 3000 3210.58

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Sep-2022 3754.85 3300 3491.83
Aug-2022 3569.95 2980 3179.15
Jul-2022 3432.75 2972.35 3211.51

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.

Garware Technical Fibres Buyback Documents

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Company Contact Information

Garware Technical Fibres Limited
Plot No. 11, Block D-1,
MIDC, Chinchwad, Pune
411 019

Phone: +91 020 2799 0224
Email: secretarial@garwarefibres.com
Website: http://www.garwarefibres.com/

Garware Technical Fibres 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.buyback2022@linkintime.co.in
    Website: https://linkintime.co.in/

Garware Technical Fibres Buyback Manager

Lead Manager(s)

  1. Ambit Private Limited

Registered Broker

  1. Ambit Capital Private Limited
    Email: sameer.parkar@ambit.co

Find Garware Technical Fibres Buyback Latest Update

Garware Technical Fibres Buyback FAQs

The Garware Technical Fibres Buyback opens on Dec 5, 2022, and closes on Dec 16, 2022.

The Garware Technical Fibres Buyback last day to buy is not available as of now.

The Garware Technical Fibres Buyback is a Tender Offer.

Garware Technical Fibres Buyback Schedule

Buyback Opening DateDec 5, 2022
Buyback Closing DateDec 16, 2022
Last Date for receipt of Tender FormsDec 16, 2022
Finalisation of Buyback AcceptanceDec 26, 2022
Last Date for settlment of bidsDec 27, 2022
Last Date for Extinguishment of SharesJan 3, 2023

The Garware Technical Fibres Buyback is being offered at Rs ₹3750 per share per equity share.

Category Entitlement Ratio of Buyback
Reserved Category for Small Shareholders 3 Equity Share out of every 41 Fully paid-up Equity Shares held on the Record Date.
General Category for all other Eligible Shareholders 1 Equity Shares out of every 99 Fully paid-up Equity Shares held on the Record Date.

You could sell Garware Technical Fibres Buyback on Nov 3, 2022 to remain eligible for buyback. The record date for Garware Technical Fibres Buyback buyback is Nov 4, 2022.

The record date for the Garware Technical Fibres Buyback is Nov 4, 2022.

The issue size of Garware Technical Fibres Buyback is of 240,000.00 equity shares at ₹3750 per share aggregating upto ₹90.00 Crores.

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.

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 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. KAMMA SIVA RAMA KRISHNA   I Like It. |Report Abuse|  Link|Oct 28, 2022 7:03:32 AMReply
The Buyback of the shares of Kaveri Seeds is through the Open Market. No use.
1. Smile.   I Like It. |Report Abuse|  Link|Oct 27, 2022 8:36:42 PMReply
Small size, marginal gap between current price and offer price, skipping this.