Garware Technical Buyback offer opens on 19 January 2021. The company aims for an issue size of ₹73Crores through this buyback.
Garware Technical Fibres Ltd
incorporated in 1976, Garware Technical Fibres Limited is one of India’s leading players in the technical textiles sector. The company 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.
As of Jan 2021, Garware Technical four subsidiaries, one in Chile, one in the United States of America, and two in India. The Company has two manufacturing plants – one at Chinchwad and the other at Wai. Further, the Company has 4 (four) regional offices and 14 (fourteen) offices/depots in India to serve its customers. The company has a global presence with six overseas offices and customers in over 75 countries.
Garware Technical is the pioneer of synthetic cordage in India. The R&D Unit of the company is recognized by the Department of Science & Technology, Government of India. The company carries a strong credit rating of ‘AA’ indicating strong financial ability. The company has been awarded the Star Export House for many years.
Garware Technical Buyback Issue Timetable
| Offer Opens On | Jan 19, 2021 |
| Offer Closes On | Feb 2, 2021 |
| Record Date | Dec 11, 2020 |
| Last Date for receipt of Tender Forms | Feb 4, 2021 |
| Finalization of Buyback Acceptance | Feb 10, 2021 |
| Last Date for settlement of bids | Feb 11, 2021 |
| Last Date for Extinguishment of Shares | Feb 18, 2021 |
Garware Technical Buyback Detail
| Security Name | Garware Technical Fibres Ltd |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 0.03 Crores |
| Issue Size (Amount) | ₹73.00 Crores |
| Buyback Price | ₹2300 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
Buyback Ratio
| Category | Entitlement Ratio of Buyback |
|---|---|
| Reserved Category for Small Shareholders | 5 Equity Shares out of every 38 Equity Shares held on the Record Date. |
| General Category for all other Eligible Shareholders | 4 Equity Shares out of every 305 Equity Shares held on the Record Date. |
Company Financials
| Particulars | For the year/period ended (Rs in Million) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Revenue | 9,852.74 | 10,389.01 | 9,034.25 |
| Profit After Tax | 140.51 | 1,256.80 | 1,051.73 |
| Reserves and Surplus | 7,172.40 | 6,284.64 | 5,184.77 |
Stock Market Data (for preceding 3 months)
BSE
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Nov-2020 | 2298 | 1814 | 2055 |
| Oct-2020 | 2250 | 1837 | 2032 |
| Sep-2020 | 2204 | 1737 | 1960 |
NSE
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Month | High Price | Low Price | Average Price |
| Nov-2020 | 2300 | 1812 | 2063 |
| Oct-2020 | 2250 | 1835 | 2032 |
| Sep-2020 | 2205 | 1751 | 1961 |
Garware Technical Buyback Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: gtfl.buyback@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Information
Garware Technical Fibres Ltd
Plot No. 11, Block D-1,
MIDC, Chinchwad, Pune – 41
Phone: +91 020 2799 0224
Email: secretarial@garwarefibres.com
Website: https://www.garwarefibres.com/
Final Thoughts
A buyback occurs when the issuing company pays shareholders the market value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors. subscribing for a buyback issue is purely a personal choice. make a detailed study before you make a decision on buyback issue subscription.
Happy Investing