Garware Technical Fibres Buyback 2022 description – The company is one of India’s leading players in the technical textiles sector. It has a global presence with customers spread across 75 countries. It 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 Share Buyback 2022 Details
| Buyback Dates | 5 – 16 December 2022 |
| Garware Technical Fibres Buyback Price | INR 3,750 per share |
| Buyback Offer Size (Shares) | 2,40,000 shares |
| Buyback offer as % of total shares | 1.16% |
| Buyback Offer Size (Amount) | INR 90 Crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE, NSE |
Garware Technical Fibres Buyback Dates (Timeline)
| Board Meeting for Buyback Proposal | 14 October 2022 |
| Buyback Approval Date | 21 October 2022 |
| Public Announcement of Buyback | 24 October 2022 |
| Garware Technical Fibres Buyback Record Date | 4 November 2022 |
| Buyback Opening Date | 5 December 2022 |
| Buyback Closing Date | 16 December 2022 |
| Cut-off Date to receive completed tender forms by Registrar | 16 December 2022 |
| Verification Date by the Registrar | 26 December 2022 |
| Return of unaccepted shares by Registrar | 27 December 2022 |
| Extinguishment of accepted shares | 3 January 2022 |
Garware Technical Fibres Buyback 2022 Documents
Letter of Offer
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Garware Technical Fibres Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (shares less than INR 2 Lakh) | 3/41 | 7.32 |
| General category (for all other Eligible Shareholders) | 1/99 | 1.01 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
Garware Technical Fibres’ Financial Performance
| FY 2019 | FY 2020 | FY 2021 | FY 2022 | |
| Total Income | 1,038.80 | 1,013.85 | 1,051.80 | 1,201.53 |
| Total Expenses | 839.56 | 778.39 | 828.48 | 970.11 |
| Net income | 125.61 | 178.00 | 154.63 | 160.73 |
Calculation of Investment in Buyback
| Maximum market value of a share holder as on record date | INR 2,00,000 |
| Buyback price per share | INR 3,750 |
| Maximum shares for small shareholder (2,00,000/3,750) | 54 shares* |
| Closing price of stock as on 21 October 2022 | INR 3,459.60** |
| Maximum amount invested in buyback (INR3459.60 x 54 shares) | INR 1,86,818 |
** For simplicity, we have considered price on buyback approval date
Garware Technical Fibres Buyback Profit Guidance
| Shares Tendered | Buyback Entitlement | Acceptance | Buyback Profit | Profit in % |
| 54 | 4 | 4 (100%) | 1,162 | 0.62 |
| 54 | 4 | 8 (200%) | 2,323 | 1.24 |
| 54 | 4 | 12 (300%) | 3,485 | 1.87 |
Registrar of Garware Technical Fibres Buyback 2022
Link Intime India Private Limited
C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg,
Vikhroli (West), Mumbai 400 083,
Maharashtra, India
Tel No.: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in
Manager of Garware Technical Fibres Buyback 2022
AMBIT PRIVATE LIMITED
Ambit House, 449, Senapati Bapat Marg,
Lower Parel, Mumbai, India – 400 013
Tel. No.: +91 (22) 6623 3030
Email: [email protected]
Website: www.ambit.co
Process to Participate in Garware Technical Fibres Buyback
All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stock broker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.
The shareholder must transfer the tendered shares to the clearing corporation’s Special account. In turn, the broker would place a buyback order on the stock exchange.
The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After document verification is complete, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.
Frequently Asked Questions
When does Garware Technical Fibres share buyback offer open?
Garware Technical Fibres share buyback opens on 5 December 2022 and closes on 16 December 2022.
Which type of buyback is Garware Technical Fibres buyback offer?
Garware Technical Fibres buyback is a tender offer.
What is Garware Technical Fibres buyback price?
Garware Technical Fibres buyback price is INR 3,750 per share.
What is Garware Technical Fibres buyback record date?
Garware Technical Fibres buyback record date is 4 November 2022.
