Garware Technical Fibres Ltd has received a caution letter from BSE Limited regarding erroneous details in its XBRL filing of the Annual Secretarial Compliance Report for FY 2023-24. The regulatory action was communicated to the company on December 30, 2025, highlighting discrepancies in compliance reporting.

Nature of Regulatory Action

The BSE identified incorrect details related to the applicability of SEBI regulations in the company's XBRL filing. The specific violation pertained to erroneous information regarding the SEBI (Prohibition of Insider Trading) Regulations in the Annual Secretarial Compliance Report for FY 2023-24.

Compliance Discrepancies

BSE observed that Garware Technical Fibres had submitted incorrect details concerning the applicability of multiple SEBI regulations, including:

• SEBI (Listing Obligations and Disclosure Requirements) Regulations
• SEBI (Prohibition of Insider Trading) Regulations
• SEBI (Substantial Acquisition of Shares and Takeovers) Regulations

The exchange noted discrepancies between the reporting made by the company and the actual regulatory requirements under these frameworks.

BSE Advisory and Future Compliance

BSE Limited has advised Garware Technical Fibres to exercise greater caution in future filings and implement due diligence measures. The exchange emphasized the need for corrective steps to avoid recurrence of such compliance lapses and ensure adherence to applicable provisions of SEBI LODR and related SEBI circulars.

Impact Assessment

The company has reported that this regulatory action will have no impact on its financial, operational, or other business activities. The caution letter appears to be a procedural matter focused on improving compliance standards rather than imposing financial penalties or operational restrictions.

White Oak Capital Management Consultants LLP has significantly reduced its stake in Garware Technical Fibres Limited , according to a recent disclosure. The asset management firm reported that its managed funds now hold 21,23,647 shares, equivalent to 2.14% of the company's paid-up share capital, following a series of disposal transactions on November 11, 2025.

Stake Reduction Details

The reduction in stake was executed through open market transactions across various funds and Separately Managed Accounts (SMAs) managed by White Oak Capital. This move represents a substantial decrease from their previous holding.

Previous Holdings and Regulatory Context

Prior to this transaction, White Oak Capital's position in Garware Technical Fibres was considerably larger:

White Oak Capital had previously disclosed a total holding of 10,65,635 shares, equivalent to 5.09% of the company's paid-up share capital, on March 10, 2021, as per Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Business Transfer Impact

The company also highlighted a significant corporate action that affected its holdings. Pursuant to a Business Transfer Agreement, there was a transfer of Portfolio Management Services (PMS) Business from White Oak Capital to WhiteOak Capital Asset Management Limited, effective April 01, 2024. This transfer resulted in a revised threshold for White Oak Capital, with their stake post-transfer of PMS business standing at 4.42%.

Regulatory Compliance

The current disclosure has been made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires investors to disclose their shareholding and voting rights when there is a change of 2% or more in their holding from the last disclosure.

Company Background

Garware Technical Fibres Limited has a total of 9,92,65,845 equity shares with a face value of Rs.10 each. The company operates in the technical textiles sector, providing solutions for various industries including fishing, aquaculture, shipping, sports, agriculture, and more.