Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeover, Buy Back and De-listing vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015, and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019, and 20200528-32 dated 28 May 2020, 20201102-43 dated Nov 02, 2020, and 20210825-62 dated Aug 25,2021 has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that Garware Technical Fibres Limited (“The Company”) offer to buyback not exceeding 5,25,000 (five lakhs twenty five thousand only ) fully paid-up equity shares of the company of the face value of Rs. 10/- (Indian rupees ten only) each, representing 2.58% of the equity shares in the existing total paid-up equity capital of the company as on the date of the board meeting and as of March 31, 2023, from all eligible shareholders (equity shareholders as on the record date, being Tuesday, March 26, 2024) on a proportionate basis, through the ‘tender offer’ process, at a price of Rs. 3,800/- (Indian Rupees three thousand eight hundred only) per equity share, payable in cash, for an aggregate maximum amount not exceeding Rs. 199,50,00,000/- (Indian Rupees one ninety nine crores fifty lakhs only) excluding the transaction costs from April 1, 2024 to April 5, 2024.
Letter of Offer is herewith attached for perusal.
BSE shall be the Designated Stock Exchange for captioned issue.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Mangesh Tayde
Deputy General Manager
Listing Business Relationship
March 28, 2024.
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