Garware Technical Fibres Limited Buyback
Garware Technical Fibres Buyback 2024
Tender Offer
₹3,800.00
Buyback price per shareAbout Garware Technical Fibres Limited Buyback
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 Limited Buyback Details
Security Name
Garware Technical Fibres LimitedBuyback Price
₹3,800.00Face Value
₹10.00Listing at Group
BSE, NSELead Manager
Motilal Oswal Investment Advisors LimitedBuyback Docs
Letter Of OfferIssue Size
525,000Garware Technical Fibres Buyback 2024 Issue Timetable
| Last Date to buy shares | Record Date | Offer Opens On | Offer Closes On * |
| Mar 22, 2024 | Mar 26, 2024 | Apr 1, 2024 | Apr 5, 2024 |
| Last Date for receipt of Tender Forms | Finalisation of Buyback Acceptance | Last Date for settlement of bids | Last Date for Extinguishment of Shares |
| Apr 5, 2024 | Apr 12, 2024 | Apr 15, 2024 | Apr 25, 2024 |
Garware Technical Fibres Limited Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
| Reserved Category for Small Shareholders | 2/13 | 78750 |
| General Category for all other Eligible Shareholders | 2/89 | 446250 |
Company Financials All values are in ₹ Cr.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
|---|---|---|---|
| Net Worth | -- | -- | -- |
| Total Revenue | 1,333.45 | 1,214.94 | 1,069.24 |
| Profit After Tax | 172.20 | 164.78 | 158.40 |
| Total Assets | 1,493.17 | 1,415.08 | 1,318.88 |
| Reserves And Surplus | 1,003.36 | 970.49 | 814.92 |
| Total Borrowing | -- | -- | -- |
How to Participate in Garware Technical Fibres Limited Buyback?
1. Firstly, to be eligible for the buyback the investor should have shares of Garware Technical Fibres Limited Buyback in Demat or physical form as on the record date Mar 26, 2024.
2. Once you have shares in Demat, you can participate in the buyback process which is opening from Apr 1, 2024 by selling your shares through your broker on BSE, NSE.
3. Then on Apr 25, 2024, the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
Calculation of Investment in Garware Technical Fibres Limited Buyback
Maximum market value of a share holder as on record date | ₹200,000.00 |
Buyback price per share | ₹10,000.00 |
Maximum share for small shareholders (200000/ 10000) | 20.00 share |
Closing price of stock as of 2024-01-08 | ₹6,985.70 |
Maximum amount insted in buyback (₹6,985.70 x 20 shares) | ₹139,714.00 |
* No. of shares stands to change according to the closing price on the record date
* For simplicity, we have considered the price on date Jan 8, 2024
Expected Profit from the Garware Technical Fibres Limited Buyback on the bases of acceptance Ratio:
Acceptance Ratio | 33% | 50% | 75% | 100% |
Amount Invested in Buyback | ₹139,714.00 | ₹139,714.00 | ₹139,714.00 | ₹139,714.00 |
No. of Shares Buyback | 6 | 10 | 15 | 20 |
Buyback Profit | 18085 | 30143 | 45214 | 60286 |
Profit% | 12.94% | 21.57% | 32.36% | 43.15% |
Garware Technical Fibres Limited Buyback - Necessity of the Objective
Buyback is being undertaken, inter-alia, for the following reasons:
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.
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.
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.
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 Limited Buyback
Plot No. 11, Block D-L, M.I.D.C.,Chinchwad, Pune 411019Email: pune_admin@garwarefibres.com
Phone: +91 20 2799 0000
Website: https://www.garwarefibres.com/
Link Intime India Private Ltd
Email: garware.buyback2024@linkintime.co.in
Phone: +91-22-4918 6270
Website: https://linkintime.co.in/initial_offer/public-issues.html
