The Garware Technical Fibres Limited date has been confirmed from April 1, 2024 – April 5, 2024. Read the post to learn about Garware Technical Fibres Limited Buyback.
GTF products are used in various industries, such as coated fabrics, geosynthetics, sports, aquaculture, transportation, and fishing. The company’s IR nylon rope’s flexibility and impact resistance make it ideal for applications where durability is essential.
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Key Details Of Garware Technical Fibres:
Bidding Dates
April 1-5
Buyback Price
₹3800 per share
Face Value
₹10 per share
Offer Closes On
April 5, 2024
Garware Technical Fibres Limited IPO GMP
The Garware Technical Fibres Limited Buyback Price is ₹3800 per share.
Garware Technical Fibres IPO Overview
Garware Technical Fibres (GTF), founded in 1976, is a significant maker of technical textiles. They specialise in making nets, tarpaulins, and ropes. Known for its revolutionary coated textiles, synthetic ropes, geosynthetics, and a wide range of nets, including fishing, sports, and safety nets. Their goods are widely employed in several industries, including fishing, aquaculture, shipping, sports, agriculture, coated textiles, and geosynthetics.
The organisation’s IR nylon cord is suitable for scenarios where toughness is essential due to its design, which provides flexibility and cushioning. The organisation operates in 75 nations and has six branches abroad. The company holds 27 granted licenses. The company has acquired BVC, UK certification for ISO 14001-2015 and ISO 9001: 2015.
Garware Technical Fibres Limited Buyback Detail
| Issue Period | April 1, 2024 – April 5, 2024 |
| Security Name | Garware Technical Fibres Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 525,000 |
| Issue Size (Amount) | ₹199.50 Crores |
| Buyback Price | ₹3800 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
Garware Technical Fibres Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,493.17 | 1,415.08 | 1,318.88 | |
| Revenue | 673.40 | 1,333.45 | 1,214.94 | 1,069.24 |
| Profit After Tax | 95.44 | 172.20 | 164.78 | 158.40 |
| Reserves and Surplus | 1,003.36 | 970.49 | 814.92 | |
| Amount in ₹ Crore | ||||
Garware Technical Fibres Limited Buyback Issue Timetable
| Last Date to buy shares | March 22, 2024 |
| Record Date | March 26, 2024 |
| Offer Opens On | April 1, 2024 |
| Last Date for receipt of Tender Forms | April 5, 2024 |
| Offer Closes On * | April 5, 2024 |
| Finalisation of Buyback Acceptance | April 12, 2024 |
| Last Date for settlment of bids | April 15, 2024 |
| Last Date for Extinguishment of Shares | April 25, 2024 |
Company Profile
Necessity of the Issue
Among other reasons, buyback is being done for the following:
- The buyback will assist the company in returning surplus cash to its shareholders who hold equity shares broadly in proportion to their shareholding, thereby enhancing the overall return to shareholders. 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
repurchased at the more significant amount, set aside for the benefit of smaller shareholders. According to the company, many public shareholders would profit from this reserve for small owners, who would be categorised as “small shareholders” under Regulation 2(i)(n) of the SEBI Buyback Regulations;
- The buyback procedure now utilises the tender offer mechanism, as specified in the SEBI Buyback rules.
- The repurchase program may increase profits per share and return on investment while lowering total equity, leading to a steady increase in shareholder value. and
- Through the buyback option, shareholders who possess equity shares in the company have a chance to participate. Customers can choose to participate in the Buyback offer and get cash in lieu of Equity Shares, or they can opt-out and see an increase in their ownership percentage following the Buyback offer without having to make additional investments.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | [email protected] |
| Website | linkintime.co.in |
Contact Details
| Name | Garware Technical Fibres Limited |
| Phone number | +91 20 2799 0000 |
| Email ID | [email protected] |
| Website | garwarefibres.com |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
Garware Technical Fibres Limited IPO FAQs
Which is the last day to buy Garware Technical Fibres Buyback 2024 for buyback?
Last date to be eligible to participate in buyback is March 22, 2024.
What is the offer price for Garware Technical Fibres Buyback 2024 offer?
The Garware Technical Fibres Buyback 2024 is being offered at Rs ₹3800 per share per equity share.
What is the record date for Garware Technical Fibres Buyback 2024 offer?
The record date for the Garware Technical Fibres Buyback 2024 is March 26, 2024.
What is the issue size of Garware Technical Fibres Buyback 2024?
The issue size of Garware Technical Fibres Buyback 2024 is of 525,000 equity shares at ₹3800 per share aggregating upto ₹199.50 Crores.
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