Garware Technical Fibres soars as its arm to acquire OTS
Garware Technical Fibres is currently trading at Rs. 901.35, up by 37.70 points or 4.37% from its previous closing of Rs. 863.65 on the BSE.
The scrip opened at Rs. 877.05 and has touched a high and low of Rs. 924.05 and Rs. 877.05 respectively. So far 32263 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 985.16 on 09-Dec-2024 and a 52 week low of Rs. 664.10 on 19-Feb-2025.
Last one week high and low of the scrip stood at Rs. 924.05 and Rs. 826.75 respectively. The current market cap of the company is Rs. 8959.24 crore.
The promoters holding in the company stood at 53.00%, while Institutions and Non-Institutions held 20.77% and 26.23% respectively.
Garware Technical Fibres’ wholly owned UK-based subsidiary -- Garware Technical Fibres UK has entered into a definitive Share Purchase Agreement (SPA) to acquire Offshore & Trawl Supply AS (OTS), a Norway-based provider of advanced synthetic cordage solutions for the offshore oil & gas, aquaculture, marine and commercial fishing industries. The acquisition marks a key milestone in the company's global growth journey and reinforces its commitment to delivering innovation-led, high-performance solutions to customers worldwide.
OTS is a well-regarded European player known for its premium, value-added synthetic cordage offerings. Its product portfolio complements the company's existing capabilities, while opening up new geographies, customer segments, and applications for mutual growth. The acquisition also brings in a team of highly skilled Norwegian engineers and domain experts known for their technical depth, customer-centricity, and innovative mindset-qualities that closely reflect the company's values and culture.
Garware Technical Fibres is engaged in manufacturing and selling various products such as Ropes, Twine, Yarn, Fishnet, Other Nets and Technical Textiles.
