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, 20200528-32 dated 28 May 2020 and 20201102-43 dated November 02,2020 , 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") has announced an offer to buyback up to 3,17,391 (Three Lakhs Seventeen Thousand Three Hundred Ninety One Only) fully paid-up equity shares of the Company of the face value of Rs.10/- (Indian Rupees Ten Only) each, representing 1.52% of the equity shares in the existing total paid-up equity capital of the company, from all eligible shareholders (equity shareholders as on the Record Date, being Friday, December 11, 2020) on a proportionate basis, through the ‘Tender Offer’ process, at a price of Rs. 2,300/- (Indian Rupees Two Thousand Three Hundred Only) per equity share, payable in cash, for an aggregate maximum amount of Rs. 72,99,99,300/- (Indian Rupees Seventy Two Crores Ninety Nine Lakhs Ninety Nine Thousand Three Hundred Only), from, January 19, 2021 to February 2, 2021
Letter of Offer is herewith attached.
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.
Atul Dhotre
Senior Manager
Listing Sales & Ops
January 12, 2021
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