Garware Technical Fibres Approves ₹110 Cr Share Buyback at INR 680 Per Share

Garware Technical Fibres has announced that its Board of Directors, at its meeting held on Friday, May 08, 2026, approved a proposal to buy back up to 1,617,500 fully paid-up equity shares at a price of INR 680 per share, for an aggregate amount not exceeding INR 110 crores. The buyback will be conducted on a proportionate basis through the tender offer route using the stock exchange mechanism, in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. The outcome was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Buyback Details

The approved buyback represents 1.63% of the total paid-up equity share capital of the company. The aggregate buyback size of INR 110 crores represents 9.46% and 9.35% of the aggregate of the company's fully paid-up equity share capital and free reserves as per the latest audited standalone and consolidated financial statements for the year ended March 31, 2025, respectively. The buyback price and key parameters are summarised below:

Parameter: Details Number of Shares: Up to 1,617,500 equity shares % of Paid-Up Capital: 1.63% Buyback Price: INR 680 per equity share Aggregate Buyback Size: Not exceeding INR 110 crores Face Value: INR 10 per share Method: Tender offer via stock exchange mechanism Record Date: Wednesday, May 20, 2026 Designated Stock Exchange: BSE Limited Board Meeting Time: 12:30 PM to 2:30 PM

The buyback price is exclusive of transaction costs, including brokerage, securities transaction tax, goods and service tax, stamp duty, filing fees payable to SEBI, advisors and legal fees, intermediary fees, public announcement costs, and other incidental expenses. In terms of Regulation 5(via) of the SEBI Buyback Regulations, the Board may, until one working day prior to the Record Date, increase the buyback price and decrease the number of equity shares proposed to be bought back, provided there is no change in the buyback size.

Promoter Non-Participation and Committee Formation

The Board has taken note that the promoters and promoter group of the company have expressed their intention not to participate in the buyback, as confirmed through letters of intention dated May 08, 2026. The Board has constituted a "Buyback Committee" comprising Mr. S. S. Rajpathak (Director), Mr. Shashank Gupta (CFO), and Mr. Sunil Agarwal (Company Secretary), and delegated its powers to undertake all acts, deeds, matters, and things as may be necessary, expedient, or proper in relation to the proposed buyback. As required under the SEBI Buyback Regulations, the declaration of solvency has been authorised to be signed jointly by Mr. Vayu Ramesh Garware, Chairman and Managing Director, and Mr. Shridhar Shrikrishna Rajpathak, Director.

Key Intermediaries Appointed

The Board has appointed several intermediaries to facilitate the buyback process. The key appointments are as follows:

Role: Appointed Entity Merchant Banker: Ambit Private Limited Registrar to the Issue: MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) Registered Broker: Ambit Capital Private Limited Escrow Agent: HDFC Bank Ltd. Legal Counsel: Cyril Amarchand Mangaldas Compliance Officer: Mr. Sunil Agarwal, Company Secretary Statutory Auditor (Report): M/s Mehta Chokshi & Shah, LLP

The buyback will be funded from the company's current balances of cash and cash equivalents, proceeds of disposal of investments, and/or internal accruals, and not from any borrowed funds. An escrow account will be opened with HDFC Bank Ltd. in accordance with Regulation 9(xi) of the SEBI Buyback Regulations.

Pre-Buyback Shareholding Pattern

The shareholding pattern of the company as on March 31, 2026, prior to the buyback, is as follows:

Category of Shareholder: Number of Equity Shares % of Equity Share Capital Promoters & Promoter Group: 52,970,480 53.36% Foreign Investors (NRIs, FIIs, Foreign Mutual Funds): 10,658,896 10.73% Financial Institutions / Banks & Mutual Funds: 10,212,440 10.28% Others (Public, Public Bodies Corporate, etc.): 25,424,029 25.63% Total: 99,265,845 100%

The post-buyback shareholding pattern will be ascertained following the completion of the buyback.

Trading Window and Regulatory Filing

The trading window for designated persons of the company has been closed since Wednesday, April 1, 2026, for the purpose of consideration of audited financial results for the quarter and year ended March 31, 2026. The trading window closure has been extended to cover the buyback proposal as well and will be reopened 48 hours after the submission of the audited financial results. The board meeting intimation was signed by Sunil Agarwal, Company Secretary (M. No. FCS6407), on behalf of Garware Technical Fibres Limited, and was addressed to both BSE Limited and the National Stock Exchange of India Ltd. Garware Technical Fibres Limited, formerly known as Garware-Wall Ropes Ltd., is registered at Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune 411 019, India, with CIN: L25209MH1976PLC018939.

Garware Technical Fibres Limited has issued a public announcement informing its shareholders about a special window for the transfer and dematerialisation of physical securities, pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026. The notice was published in 'Financial Express' (All India) and 'Loksatta' (Pune) editions on May 08, 2026, and was submitted to the stock exchanges under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, under the signature of Company Secretary Sunil Agarwal.

Special Window: Key Details

The special window has been opened in accordance with the aforementioned SEBI circular to facilitate the transfer and dematerialisation (Demat) of physical securities. The following table summarises the key parameters of this window:

Parameter: Details Window Period: February 05, 2026 to February 04, 2027 Duration: One year Eligible Securities: Physical securities sold/purchased prior to April 1, 2019 Mode of Credit: Mandatory Demat mode only Lock-in Period: One year from the date of registration of transfer Regulatory Reference: SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026

Eligibility and Scope

The special window is also available for transfer requests that were submitted earlier but were rejected, returned, or not attended to due to deficiency in documents, process, or otherwise. The window applies only to instances permitted under the applicability defined in the SEBI circular. The following cases are excluded from this window:

Cases involving disputes between the transferor and transferee — such disputes may be settled through court or NCLT process

Securities that have already been transferred to the Investor Education and Protection Fund (IEPF)

Lock-in Conditions

Shares transferred under this special window shall be mandatorily credited only in Demat mode. These securities will be subject to a lock-in for a period of one year from the date of registration of transfer. During this lock-in period, such securities shall not be:

Transferred

Lien-marked

Pledged

How to Avail the Window

Eligible shareholders are requested to contact the Company's Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited, for further assistance through the following channels:

Contact Mode: Details Email (RTA): rnt.helpdesk@in.mpms.mufg.com Office Address: Akshay Complex, Block No. 202, 2nd Floor, Off. Dhole Patil Road, Near Ganesh Temple, Pune 411001 Telephone: 020-26161629 / 26163503 Email (Company): secretarial@garwarefibres.com Company Website: www.garwarefibres.com

The SEBI circular referenced in this notice has been uploaded on the company's official website at https://www.garwarefibres.com/ . The public announcement was dated May 07, 2026, and signed by Sunil Agarwal, Company Secretary (M. No. FCS 6407), from Garware Technical Fibres Limited's registered office at Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune 411 019.

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