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Stock Report
Onward Technologies Announces Rs. 18 Crore Share Buyback via Tender Offer
Posted On : 2026-05-13 10:56:54( TIMEZONE : IST )
On May 12, 2026, the Board of Directors of Onward Technologies Limited (BSE: 517536, NSE: ONWARDTEC) approved a strategic proposal to buy back equity shares from its shareholders. The decision aims to optimize the company's capital structure and return surplus liquidity to its investors.
Terms of the Buyback
The company has opted to execute the buyback through the Tender Offer route, which allows eligible shareholders to participate on a proportionate basis. The Board has fixed the buyback price at Rs. 328 per equity share, payable in cash.
The total size of the offer is capped at Rs. 18 crores, excluding transaction costs such as brokerage, taxes, and legal fees. Under this proposal, the company intends to purchase up to 5,48,780 equity shares, which represents approximately 2.41% of its total existing paid-up equity share capital.
Promoter Intent and Governance
In a notable move, the Promoters and members of the Promoter Group have officially stated their intention not to participate in the buyback. This decision typically results in an increase in the promoters' percentage of shareholding once the shares bought back from the public are extinguished.
To manage the process, the Board has formed a dedicated Buyback Committee and appointed Centrum Broking Limited as the Manager to the Buyback. Mr. Aakash Joshi, the Company Secretary, has been designated as the Compliance Officer for the duration of the transaction.
Operational Flexibility
The Board has retained the flexibility to adjust the terms shortly before the process begins. Specifically, the committee may increase the buyback price and decrease the number of shares exactly one working day prior to the Record Date, provided the total outlay of Rs. 18 crores remains the same.
Current Ownership Structure
As of May 8, 2026, the company's shareholding is distributed among three main groups. The Public holds the majority stake at 59.57% (1,35,54,132 shares), while the Promoter & Promoter Group holds 39.07% (88,90,059 shares). The remaining 1.36% is held by Employee Trusts.
he Company has fixed Monday , 18th May 2026 as the "Record Date" for the purpose of determining the entitlement and the names of equity shareholders who shall be eligible to participate in the proposed buyback of equity shares of the Company. The company will also release a detailed Letter of Offer containing the specific timelines and instructions for participation in due course.
Shares of Onward Technologies Limited was last trading in BSE at Rs. 265.85 as compared to the previous close of Rs. 273.40. The total number of shares traded during the day was 11451 in over 593 trades.
The stock hit an intraday high of Rs. 278.00 and intraday low of 264.60. The net turnover during the day was Rs. 3074561.00.
