Garware Technical Fibres: Buyback Price And Date

News: Established back in 1976, Garware Technical Fibres Ltd. (formerly known as Garware-Wall Ropes Ltd.) stands out as a prominent player in India’s technical textiles sector. With a widespread global presence, the company serves customers in 75 different countries. Garware Technical Fibres Ltd. specializes in offering solutions across various domains, including Fisheries, Aquaculture, Shipping, Yarns & Thread, Sports, Coated Fabric, Agriculture, and Geosynthetics.

As a versatile and globally operating technical textiles company, Garware Technical Fibres Ltd. is renowned for delivering top-notch, innovative solutions. These encompass high-performance aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabrics, polymer ropes, and geosynthetics.

Check Buy Back Offer Deal :

This buyback deal is of the Tender Offer type, with a record date set for March 12, 2024. The company plans to repurchase shares worth ₹199.50 Crores. The proposal got the green light during a Board Meeting held on January 29, 2024, and the public announcement was also made on the same day.

The buyback offer constitutes 2.58% of the company’s shares, totaling 5,25,000 shares. The price offered per equity share is ₹3800, with a face value of ₹10.

Buyback Details :

The company’s plan involves a buyback of up to 5,25,000 (Five Lakh Twenty-Five Thousand) equity shares, accounting for 2.58% of the total paid-up share capital. Each equity share will be repurchased at a price of Rs. 3800/- (Rupees Three Thousand Eight Hundred only), payable in cash. The total expenditure for this buyback is not expected to exceed Rs. 199,50,00,000 (Rupees One Hundred Ninety Nine Crores Fifty Lakhs only).

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Important Money Details:

Here’s a simplified overview of the financial performance of the company over the past five years:

Key Takeaways :

• Sales have shown a consistent growth trend from Mar 2019 to Mar 2023.
• Operating Profit has experienced moderate growth, reaching 230 Cr in Mar 2023.
• Other Income has fluctuated but generally increased over the years.
• Net Profit has shown steady growth from 126 Cr in Mar 2019 to 172 Cr in Mar 2023.
• Earnings Per Share (EPS) has also demonstrated an upward trend.
• Dividend Payout % has varied, with a notable increase in Mar 2020 and a decrease in Mar 2021.

How to Join in a Buyback?

Eligibility Check (Before March 12, 2024):

• To be eligible for the buyback, investors must possess shares of Garware Technical Fibres Limited in either Demat or physical form as of the record date, which is March 12, 2024.

Participation in Buyback Process:

• Once you confirm your eligibility and have shares in Demat, you can engage in the buyback process. The buyback window is expected to open on [To be updated].
• Sell your shares through your broker on either the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE). Ensure to follow the guidelines and timelines provided by the company and the stock exchanges.

Payment and Share Return (On [To be updated]):

• After the buyback process concludes, on [To be updated], the payment will be disbursed for the shares that were accepted in the buyback.
• Any shares that were not accepted during the buyback will be returned to your Demat account.

Earning from Buyback with Acceptance Ratio Calculation :

• Purchase 52 shares at a cost-per-share of Rs. 3660 (total investment Rs. 2,00,000 divided by share price Rs. 3800).

• Acceptance Ratios: 33%, 50%, 75%, 100%

• Invested amount in the buyback: Rs. 190,320 for all scenarios.

• Number of shares bought back: 17, 26, 39, 52 for the respective acceptance ratios.

• Buyback profits: Rs. 2380, Rs. 3640, Rs. 5460, Rs. 7280.

• Profit percentages: 1.25%, 1.91%, 2.87%, 3.83%.