Established in 1976, Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.) is one of India’s leading players in the technical textiles sector. The company has a global presence with customers spread across 75 countries. The company offers solutions for Fisheries, Aquaculture, Shipping, Yarns & Thread, Sports, Coated fabric, agriculture and Geosynthetics.
The company 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 Ltd Stock Quote & Charts
3428.95
-5.45 (-0.16%)
- Open: 3445
- High – Low: 3456.1 – 3405.05
- Previous Close: 3434.4
- Total Traded Value: 3264
- Updated On: 12/2/2022 4:00 PM
Discuss this stock >>IPO Performance Tracker
Garware Technical Fibres Buyback Detail
| Issue Period | Dec 5, 2022 – Dec 16, 2022 |
| Security Name | Garware Technical Fibres Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 240,000.00 |
| Issue Size (Amount) | ₹90.00 Crores |
| Buyback Price | ₹3750 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
Garware Technical Fibres Buyback Issue Timetable
| Offer Opens On | Dec 5, 2022 |
| Offer Closes On | Dec 16, 2022 |
| Record Date | Nov 4, 2022 |
| Last Date for receipt of Tender Forms | Dec 16, 2022 |
| Finalisation of Buyback Acceptance | Dec 26, 2022 |
| Last Date for settlment of bids | Dec 27, 2022 |
| Last Date for Extinguishment of Shares | Jan 3, 2023 |
Buyback Ratio
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 3 Equity Share out of every 41 Fully paid-up Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 99 Fully paid-up Equity Shares held on the Record Date. |
Company Financials
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 985.27 | 140.53 | 739.12 | 717.24 | 132.54 |
| 31-Mar-21 | 1069.24 | 158.4 | 811.11 | 790.49 | 101.81 |
| 31-Mar-22 | 1214.94 | 164.78 | 970.59 | 949.97 | 79.57 |
| Amount in ₹ Crore |
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Sep-2022 | 3752.55 | 3250.25 | 3491.78 |
| Aug-2022 | 3560 | 2990 | 3180.46 |
| Jul-2022 | 3465 | 3000 | 3210.58 |
Stock price at NSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Sep-2022 | 3754.85 | 3300 | 3491.83 |
| Aug-2022 | 3569.95 | 2980 | 3179.15 |
| Jul-2022 | 3432.75 | 2972.35 | 3211.51 |
Necessity of the Issue
The Buyback is being undertaken, inter-alia, for the following reasons:
1. 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.
2. The Buyback may help in improving the Company’s return on equity, by the reduction in the equity base, thereby leading to a long-term increase in shareholders’ value.
Garware Technical Fibres Buyback Documents
Garware Technical Fibres Buyback Rating
Vote Here …