Onward Technologies Limited Approves Buyback of Equity Shares
Onward Technologies Limited announced that its Board of Directors has approved a proposal to buy back equity shares of the Company. The buyback, which was approved during the Board meeting held on May 12, 2026, will be executed through the tender offer route on a proportionate basis.The Board detailed the specific parameters for the proposed buyback, including the number of shares, the offer price, and the maximum offer size.
Proposed Buyback Details
The Company intends to buy back a total of 5,48,780 Equity Shares. The buyback price has been set at ₹ 328 per share. The maximum buyback offer size is approved up to ₹ 18,00,00,000.The buyback will be undertaken through the 'tender offer' route.
Operational Approvals and Committee Formation
During the board meeting, it was noted that the promoters and members of the Promoter Group intend not to participate in the proposed buyback.For the execution of the buyback, the Board has appointed Centrum Broking Limited as the "Manager to the Buyback." Furthermore, a committee named 'Buyback Committee' was constituted and authorized to take necessary actions related to the buyback at its discretion.
Pre-Buyback Shareholding Pattern
As of May 8, 2026, the Company maintained a specific shareholding pattern. The pre-buyback structure is detailed below:| Category of Shareholder | Number of Fully Paid Up Equity Shares Held | Shareholding as a % of Total Shares |
|---|---|---|
| Promoter & Promoter Group | 88,90,059 | 39.07 |
| Public | 1,35,54,132 | 59.57 |
| Non-Promoter Non-Public | 3,09,679 | 1.36 |
| Shares underlying DRs | - | - |
| Shares held by Employee Trusts | 3,09,679 | 1.36 |
| Total | 2,27,53,870 | 100.00 |
The Company stated that details regarding the actual number of equity shares bought back, including the percentage of existing paid-up capital, and the subsequent post-buyback shareholding pattern are not yet available and will be provided upon completion of the buyback.
ONWARDTEC Stock Price Movement
Onward Technologies Limited shares are slipping by 1.96% in live trading, currently at ₹268.24 as of 2:19 PM, losing ₹5.35 today. The stock recorded significant activity during the session, with 204,514 shares trading.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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