GARWARE TECHNICAL FIBRES LIMITED BuyBack 2020, with Record and Payment Details & History

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-buyback

    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 1.52of 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 – 400 083 
    Tel No.: +91 22 4918 6200; Fax No.: +91 22 4918 6195 
    Contact Person: Sumeet Deshpande Email: atfl.buvback@linkintime.co.in: 
    Website: www.linkintime.co.in Investor Grievance E-mail: atfl.buvback@linkintime.co.in 
    SEBI 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?

    1. Firstly, to be eligible for the buyback the investor should have shares of GARWARE TECHNICAL FIBRES LIMITED in demat or physical form as on record date -12-2020.

    2. Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE.

     

    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.

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