Onward Technologies Completes Buyback of Up to 5.48 Lakh Equity Shares
Onward Technologies Limited announced details of the buyback of up to 5,48,780 equity shares through a proportionate tender offer. The company's capital structure and shareholding patterns were detailed in relation to this corporate action.The buyback involved reserving shares for various categories of shareholders. Of the total shares reserved for purchase, details provided include:
| Category of Shareholders | No. of Equity Shares Reserved in Buyback | No. of Valid Applications | Total Equity Shares Validly Offered | No. of Equity Shares Reserved in Buyback |
|---|---|---|---|---|
| Retail Shareholders | 93,677 | 3,126 | 3,58,730 | 426 |
| General Clear Shareholders | 4,55,103 | 332 | 20,73,36 | 4.55 |
| Total | 5,48,780 |
The company provided a detailed view of its capital structure and shareholding pattern both before and after the buyback operation.
Capital Structure Update
Prior to the buyback, the Authorized Share Capital stood at 362,00,000 equity shares with a face value of ₹10 per share. The company had issued and subscribed 22,78,700 paid-up equity shares, representing a capital of ₹22,75,38,700.Post buyback, the company reported having 33,20,000 paid-up equity shares with a face value of ₹10 per share, maintaining an authorized share capital of 362,00,000. The subscribed and paid-up capital post-buyback was recorded at 22,21,18,900.
Shareholding Details Pre-Buyback
The shareholder data pre-buyback included the following key figures:| Particulars | No. of Equity Shares (Pre) | Equity Share Capital % to Existing |
|---|---|---|
| Authorized Share Capital | 362,00,000 | - |
| Paid-up Capital Issued & Subscribed | 22,78,700 | - |
The table below details the shares accepted by various investors in the buyback process:
| No. | Name | Shares Accepted under Buyback | Equity Shares Accepted as a Bought Back | Equity Shares Accepted as % of Sharecapital of Company |
|---|---|---|---|---|
| 1 | Retail Direct Holdings | 78,371 | 14.28 | 0.35 |
| 2 | Initial Portfolio Holdings | 75,996 | 13.85 | 0.34 |
| 3 | ICICI Prudential Technology Fund | 55,184 | 10.06 | 0.25 |
| 4 | Thermo Capital Pvt Ltd | 37,461 | 6.83 | 0.17 |
| 5 | K.Swapra | 25,955 | 4.73 | 0.12 |
| 6 | Dhot Industrial Finance Ltd | 19,496 | 3.55 | 0.09 |
| 7 | NZ Wealth Fund | 12,983 | - | 0.06 |
| 8 | Ritesh Ram Gandhi | 11,787 | 2.15 | 0.05 |
| 9 | Sanjay Kumar | 5,897 | 1.07 | 0.03 |
| Total | 3,23,130 | 58.88 | 1.45 |
The company announced that the Post Buyback Public Advertisement was published in Financial Express (English), Jansatta (Hindi), and Navshakti (Marathi).
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Note: The provided text includes additional financial information regarding Mutual Fund income distribution and a Corrigendum to an IPO, which are kept separate from this focused report on Onward Technologies Limited's buyback.
ONWARDTEC Stock Price Movement
Shares of Onward Technologies Limited slipped today by 1.18% to settle at ₹255.75 after trading in a tight range throughout the session. The stock recorded a volume of 28,562 shares as it closed post-market.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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