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”) has announced an Offer to buyback not exceeding 2,40,000 (two lakhs forty thousand only) ) fully paid-up equity shares of the company of the face value of INR 10/- (Indian Rupees Ten Only) each, representing 1.16% 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, 2022, from all eligible shareholders (Equity Shareholders As On The Record Date, Being Friday, November 4, 2022) on a proportionate basis, through the ‘Tender Offer’ process, at a price of INR 3,750/- (Indian Rupees Three Thousand Seven Hundred And Fifty Only) per equity share, payable in cash, for an aggregate maximum amount not exceeding INR 90,00,00,000/- (Indian Rupees Ninety Crores Only) excluding the transaction costs, from December 05, 2022 to December 16 , 2022.
Letter of Offer is herewith attached for perusal.
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
Assistant General Manager
Listing Sales & Ops
November 30, 2022 |