GARWARE TECHNICAL FIBRES LIMITED has announced a buyback of 3,17,391 (THREE LAKHS SEVENTEEN THOUSAND THREE HUNDRED NINETY ONE ONLY) equity shares for an aggregate amount of not more than Rs.72.99 crores with a pricing of Rs.2300 per share. The proposal was approved by the board of GARWARE TECHNICAL FIBRES LIMITED In the meeting held on 27 Nov 2020.
The board of directors of the "GARWARE TECHNICAL FIBRES LIMITED" meeting held on Friday, November 27, 2020 ("Board Meeting"), subject to approvals of statutory, regulatory or governmental authorities as may be required under applicable laws, have approved the buyback of the Equity Shares having a face value of INR 10/- (Indian Rupees Ten Only) each ("Equity Shares"), not exceeding 3,17,391 (Three Lakhs Seventeen Thousand Three Hundred Ninety One Only) Equity Shares (representing 1.52% and 1.45% of the total number of Equity Shares in the existing total paid-up equity capital of the Company as on the date of the Board Meeting and the total paid-up equity capital of the Company as of March 31, 2020, respectively) at a price of INR 2,300/- (Indian Rupees Two Thousand Three Hundred Only) per Equity Share ("Buyback Offer Price"), payable in cash, for an aggregate maximum amount not exceeding INR 72,99,99,300/- (Indian Rupees Seventy Two Crores Ninety Nine Lakhs Ninety Nine Thousand Three Hundred Only), excluding any expenses incurred or to be incurred for the buyback viz. brokerage, costs, fees, turnover charges, t a x es such as buyback tax, securities transaction tax and goods and services tax (if any), stamp duty, advisors fees, filing fees, printing and dispatch expenses and o t h er incidental and related expenses and charges ("Transaction Costs") (such maximum amount hereinafter referred to as the "Buyback Offer Size"), from all the shareholders/ beneficial owners of t he Equity Shares of the Company including promoters and members of the promoter group of the Company, as on Friday, December 11, 2020 ("Record Date")
GARWARE TECHNICAL FIBRES LIMITED BuyBack 2020 Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Offer Amount | Rs. 72.99 Crores |
| Buyback Record Date | 11 Dec 2020 |
| Date of Board Meeting | 27 Nov 2020 |
| Date of Public Announcement: | 03 Dev2020 |
| Buyback Offer Size: | 1.52% |
| Buyback Number of share: | 3,17,391 |
| Price Type: | Tender Offer |
| FV: | Rs. 10 Per Equity Share |
| Buyback Price: | ₹ 2300 Per Equity Share |
GARWARE TECHNICAL FIBRES LIMITED buyback of 3,17,391 equity shares which is around 1.52% of all the existing number of equity shares at a price of ₹ 2300 per equity share. The buyback offer not exceeding of ₹ 72.99 Crores of total buyback offer size.
Note: If anything you want to know about the buyback offer you can refer the GARWARE TECHNICAL FIBRES LIMITED buyback offer documents. Click Here
GARWARE TECHNICAL FIBRES LIMITED Buyback Important Dates
| Buyback Activity | Date |
|---|---|
| Board Meeting for Garware Buyback proposal | 27 Nov 2020 |
| Garware Buyback Approval date | 27 Nov 2020 |
| Public Announcement of Buyback | 01 Dec 2020 |
| Buyback Record Date | 11 Dec 2020 |
| Buyback opens on/Buyback Opening Date | 19 Jan 2021 |
| Buyback closes on/Buyback Closing Date | 02 Feb 2021 |
| Cut-off date to receive completed tender forms by Registrar | 04 Feb 2021 |
| Cut-off date for verification by the Registrar | 10 Feb 2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 10 Feb 2021 |
| Last date of settlement of bids on the stock exchange | 11 Feb 2021 |
| Last date to return unaccepted shares by Registrar | 11 Feb 2021 |
| Last date of extinguishment of Equity Shares | 18 Feb 2021 |
GARWARE TECHNICAL FIBRES LIMITED Shareholding Pattern as of ( Sep 2020 )
| Holder’s Name | No of Shares | % Share Holding |
|---|---|---|
| No Of Shares | 2,09,35,560 | 100% |
| Promoters | 1,11,00,937 | 53.02% |
| Foreign Institutions | 0 | 7.02% |
| N Banks Mutual Funds | 0 | 04.02% |
| Central Govt. | 0 | 0% |
| Others | 0 | 0% |
| General Public | 0 | 35.6% |
| Financial Institutions | 0 | 0% |
About GARWARE TECHNICAL FIBRES LIMITED Company
Garware Technical Fibres Ltd. was incorporated in the year 1976. Its today's share price is 2175.45. Its current market capitalisation stands at Rs 4737.47 Cr. In the latest quarter, company has reported Gross Sales of Rs. 9530.87 Cr and Total Income of Rs.10019.3 Cr. The company's management includes Shridhar Shrikrishna Rajpathak, Mayuri Vayu Garware, Mallika Sagar, Ashish Goel, S P Kulkarni, R M Telang, V R Garware, V R Garware.
Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.) is one of India’s leading players in the technical textiles sector. Established in 1976, the company today 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 LIMITED Buyback Registrar
C-101,1st Floor, 247 Park, Lai Bahadur Shastri Marg Vikhroli (West),Mumbai Maharashtra, India - 400 083Tel No.: +91 22 4918 6200; Fax No.: +91 22 4918 6195Contact Person: Sumeet Deshpande Email: atfl.buvback@linkintime.co.in:Website: www.linkintime.co.in Investor Grievance E-mail: atfl.buvback@linkintime.co.inSEBI Registration No.: INR000004058 Validity Period: Permanent (unless suspended or cancelled by SEBI) CIN: U67190MH1999PTC118368
GARWARE TECHNICAL FIBRES LIMITED Contact Details
(Formerly Garware-Wall Ropes Ltd.)Plot No 11, Block D1, M.I.D.C,Chinchwad, Pune – 411019,Maharashtra, India.Toll Free Number – 1800 3000 5162+91-20-27990301 | +91-20-27990306
How to Participate in GARWARE TECHNICAL FIBRES LIMITED Buyback?
3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
GARWARE TECHNICAL FIBRES LIMITED Buyback 2020 FAQs:
When is GARWARE TECHNICAL FIBRES LIMITED Buyback Record Date?
GARWARE TECHNICAL FIBRES LIMITED buyback 2020 record date is 11 December 2020
When is GARWARE TECHNICAL FIBRES LIMITED Buyback announcement Date?
GAIL buyback 2020 record date is 03 December 2020.
What is GARWARE TECHNICAL FIBRES LIMITED Buyback Price?
The company has fixed the price at ₹ 2300
How to apply for GARWARE TECHNICAL FIBRES LIMITED Buyback 2020?
As per the record date you need to have GAIL shares in your demat account. You can participate in buyback after having the stock in your account.
