Garware Technical Fibres Completes Share Buyback, Extinguishes 16.17 Lakh Shares

Garware Technical Fibres Ltd. has successfully completed the extinguishment of 16,17,500 equity shares, representing approximately 1.65% of its total paid-up capital. These shares were bought back at a price of INR 680 per share through a tender offer process, in compliance with SEBI Buyback Regulations. The buyback has reduced the company's total issued, subscribed, and paid-up equity share capital from 9,92,65,845 shares to 9,76,48,345 shares. This action is expected to enhance shareholder value by reducing the equity base.