Onward Technologies Announces Buyback of Equity Shares Worth Up To ₹18 Crore
Onward Technologies Limited has announced the buyback of its equity shares through a tender offer mechanism. The buyback, approved by the Board of Directors, targets a maximum aggregate consideration of up to ₹18,00,00,000/- for fully paid-up equity shares.The Company announced the buyback via a Public Announcement on May 14, 2026, subsequent to the Board of Directors’ meeting held on May 12, 2026. The buyback is structured to purchase up to 5,48,780 fully paid-up equity shares. Each share has a face value of ₹ 10 (Rupees Ten only) and will be purchased at a price of ₹ 328 (Rupees Three Hundred and Twenty Eight Only) per Equity Share, payable in cash.
Buyback Transaction Details
The total maximum consideration for the buyback is up to ₹ 18,00,00,000/-, representing an aggregate amount for the proposed buyback of shares.The financial details supporting the buyback, based on the audited standalone and consolidated financial statements as of March 31, 2026, are as follows:
| Particulars | Standalone Amount (₹ lakhs) | Consolidated Amount (₹ lakhs) |
|---|---|---|
| Paid-up Equity Share Capital | 2,244.42 | 2,244.42 |
| Retained Earnings | 10,306.22 | 13,234.45 |
| Securities Premium | 8.542.19 | 8.542.19 |
| Total Free Reserves (Approx.) | 18,848.41 | 21,776.64 |
| Buyback Size (% of total paid-up Equity Share Capital and Free Reserves) | 8.53% | 7.49% |
The funds for the buyback will be sourced out of the free reserves and accumulated profits of the Company.
Eligibility and Timeline
The buyback is open to all Eligible Shareholders/beneficial owners holding Equity Shares, whether in physical or dematerialized form. The process will utilize the stock exchange mechanism, with the BSE appointed as the "Designated Stock Exchange."Key dates related to the buyback process include:
- Board Meeting Date: May 12, 2026
- Record Date: Monday, May 18, 2026
- Public Announcement Date: May 14, 2026
The Company confirmed that the buyback will not result in any detriment to the Company's ability to meet its liabilities and will not render the Company insolvent within a period of one year from the date of the Board resolution.
The Public Announcement regarding the buyback was published on May 14, 2026, in multiple newspapers:
- Financial Express (English, All editions)
- Jansatta (Hindi, All editions)
- Navshakti (Marathi, Mumbai)
ONWARDTEC Stock Price Movement
Shares of Onward Technologies Limited are slipping by 1.57% in live trading, standing at ₹266.02 as of 2:37 PM. The stock is seeing consistent selling pressure, trading on a volume of 118,993 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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