ONWARDTEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Onward Technologies Ltd has approved a buyback of up to 5,48,780 equity shares (2.41% of total paid-up capital) at ₹328 per share, aggregating up to ₹18 crore. The buyback will be conducted through the tender offer route on a proportionate basis under SEBI Buyback Regulations. Promoters and promoter group have confirmed they will not participate in the buyback. Centrum Broking Limited has been appointed as the manager to the buyback. The public announcement and letter of offer will be released in due course. Pre-buyback shareholding shows promoters hold 39.07% while public shareholders hold 59.57% of the company.
The buyback at ₹328 per share signals management confidence and provides a premium exit opportunity to public shareholders. Since promoters are not participating, the buyback will exclusively benefit public shareholders, potentially supporting the stock price near the buyback level.