Garware Technical Fibres Limited — Others, 21-11-2024: Shareholders meeting

Garware Technical Fibres has announced a board meeting to discuss crucial resolutions for member approval via a postal ballot. A major proposal includes increasing the authorized share capital from INR 60 crore to INR 120 crore, facilitating future capital requirements. Additionally, a plan to issue 7.94 crore fully paid-up bonus shares at a ratio of 4:1 for existing shareholders is on the table, utilizing INR 79.41 crore from the general reserve. This move is anticipated to enhance shareholder value, potentially boosting investor sentiment positively as the company seeks to strengthen its capital base.