Centrum Broking Limited ("Manager to the Buyback") has submitted to BSE a copy of Letter of Offer for the attention of Equity Shareholders of Onward Technologies Ltd ("the Company").
ONWARDTEC · price
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Onward Technologies Ltd has announced a buyback of up to 5,48,780 fully paid-up equity shares (2.41% of total shares) at ₹328 per share, payable in cash, for an aggregate amount not exceeding ₹18 crores. The buyback will be conducted via tender offer through BSE and is open from May 22 to May 29, 2026. The buyback represents 8.53% and 7.49% of standalone and consolidated free reserves respectively, within the statutory 10% limit. Promoters have indicated they will not participate in the buyback. Small shareholders (holding up to ₹2 lakh market value) are reserved 15% of the buyback offer with a slightly better entitlement ratio.
Shareholders can tender up to their entitled proportion of shares at ₹328 per share, which may provide a liquidity opportunity. The buyback will reduce the total number of outstanding shares, potentially benefiting earnings per share. Since promoters are not participating, public shareholders will receive the full benefit.