Garware Technical Fibres Buyback 2024 description – Garware Technical Fibres stands out as a key player in India’s technical textiles sector, boasting a global presence with customers in 75 countries. The company provides solutions for Fisheries, Aquaculture, Shipping, Yarns & Thread, Sports, Coated fabric, Agriculture, and Geosynthetics.
This company is a versatile, globally-operating entity in the technical textiles realm, acclaimed for delivering cutting-edge solutions. Renowned for its excellence in high-performance aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabrics, polymer ropes, and geosynthetics, it stands as a beacon of innovation in the industry.
For the fiscal year ending on 31 March 2023, the company achieved a consolidated revenue of INR 1,305.55 crores, marking a 9.77% growth compared to the previous year’s consolidated revenue of INR 1,189.40 crores.
Garware Technical Fibres Share Buyback 2024 Details
| Garware Technical Fibres Buyback Dates | 1 – 5 April 2024 |
| Garware Technical Fibres Buyback Price | INR 3,800 per share |
| Market Price on Buyback Approval | INR 3,662 per share |
| Buyback Premium on Market Price | 3.77% |
| Buyback Offer Size (Shares) | 5,25,000 shares |
| Buyback Offer Size (Amount) | INR 199.50 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 Intimation for Buyback Proposal | 22 January 2024 |
| Buyback Approval Date | 29 January 2024 |
| Public Announcement of Buyback | 11 March 2024 |
| Garware Technical Fibres Buyback Record Date | 26 March 2024 |
| Buyback Opening Date | 1 April 2024 |
| Buyback Closing Date | 5 April 2024 |
| Cut-off Date to receive completed tender forms by Registrar | 5 April 2024 |
| Verification Date by the Registrar | 10 April 2024 |
| Return of unaccepted shares by Registrar | 15 April 2024 |
| Extinguishment of accepted shares | 25 April 2024 |
Garware Technical Fibres Buyback 2024 Documents
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 (less than INR 2 Lakh on record date) | 2/13 | 15.38 |
| General category (for all other Eligible Shareholders) | 2/89 | 2.25 |
A small Shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.
Garware Technical Fibres Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 1,034.57 | 1,189.40 | 1,305.55 |
| Total Expenses | 861.17 | 998.53 | 1,110.28 |
| Net income | 158.40 | 164.78 | 172.20 |
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 3,800 |
| Maximum shares for small shareholders (2,00,000/3,800) | 53 shares * |
| The closing price of the stock as of 29 January 2024 | INR 3,662** |
| Maximum amount invested in buyback (INR 3,662 x 53 shares) | INR 1,39,714 |
** For simplicity, we have considered the price on the buyback approval date
Garware Technical Fibres Buyback Acceptance Ratio
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 53 | 9 | 9 (100%) | 1,242 | 0.64 |
| 53 | 9 | 18 (200%) | 2,484 | 1.28 |
| 53 | 9 | 27 (300%) | 3,726 | 1.92 |
Registrar of Garware Technical Fibres Buyback 2024
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 8108114949
Email:Â [email protected]
Website:Â www.linkintime.co.in
Manager of Garware Technical Fibres Buyback 2024
MOTILAL OSWAL INVESTMENT ADVISORS LIMITED
Motilal Oswal Tower Rahimtullah Sayani Road,
Opposite Parel ST Depot, Prabhadevi Mumbai – 400 025
Telephone:Â +91 22 7193 4380
Email:Â [email protected]
Website:Â www.motilaloswalgroup.com
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 stockbroker. 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
What are Garware Technical Fibres buyback dates?
Garware Technical Fibres share buyback opens on 1 April 2024 and closes on 5 April 2024.
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 3,800 per share.
What is Garware Technical Fibres buyback record date?
Garware Technical Fibres buyback record date is 26 March 2024.
How to participate in Garware Technical Fibres share buyback?
Garware Technical Fibres share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
