Garware Technical Fibres Approves Buyback of Equity Shares Worth Up To INR 110 Crores
Garware Technical Fibres Limited announced the approval of a significant buyback program for its equity shares. The Board of Directors passed the resolution on May 08, 2026, detailing the acquisition of up to 1,617,500 fully paid-up equity shares.The company stated that the primary objectives behind the buyback are to optimize returns to shareholders and enhance overall shareholder value.
Key Buyback Details
The Board approved the buyback of Equity Shares with a face value of INR 10 each. The transaction details are summarized below:| Parameter | Detail |
|---|---|
| Maximum Shares to be Bought Back | 1,617,500 (Sixteen Lakh Seventeen Thousand Five Hundred) |
| Buyback Price per Share | INR 680 (Indian Rupees Six Eighty only) |
| Aggregate Buyback Size (Maximum) | INR 110 crores (Indian Rupees One Hundred Ten Crores only) |
The buyback represents 1.63% of the total paid-up Equity Share capital of the company and accounts for 9.46% of the total paid-up Equity Share capital and 9.35% of the free reserves, based on the latest audited standalone and consolidated financial statements for the year ended March 31, 2025.
Operational Timeline and Governance
The buyback will be conducted through the "tender offer" route. The designated Record Date for determining eligible shareholders is set as Wednesday, May 20, 2026.To manage and implement the process, the Board designated a Buyback Committee comprising Mr. S. S. Rajpathak, Director, Mr. Shashank Gupta, CFO, and Mr. Sunil Agarwal, Company Secretary.
The Board also ratified the appointment of Ambit Private Limited as the merchant banker for the buyback and MUFG Intime India Private Limited as the Registrar to the Issue and Share Transfer Agent. Mr. Sunil Agarwal was designated as the Compliance Officer for the Buyback.
GARFIBRES Stock Price Movement
Garware Technical Fibres Limited shares slipped by 1.78% today, closing at ₹626.20. The stock traded on a volume of 76,610 shares, reflecting a move down from its day’s high of ₹640.20.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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