Centrum Broking Limited ("Manager to the Buyback") has submitted to BSE a copy of Public Announcement for the attention of Equity Shareholders/Beneficial owners of Equity Shares of Onward ....
ONWARDTEC · price
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Onward Technologies Limited has approved a buyback of up to 5,48,780 fully paid-up equity shares (2.41% of total paid-up capital) at ₹328 per share, totaling up to ₹18 Crores. The buyback represents 8.53% of standalone and 7.49% of consolidated paid-up capital and free reserves, within the 10% statutory limit (no shareholder approval required). The buyback price carries a premium of ~28% over the 3-month VWAP (₹256 on BSE) and ~34% over the closing price on May 6, 2026 (₹245 on BSE). Promoters and promoter group (39.07% shareholding) have confirmed they will not participate. The record date is May 18, 2026, and the buyback will be via tender offer on BSE. The company is debt-free with cash reserves of ₹127.3 Crores (FY2026) and standalone net profit of ₹32.16 Crores.
Shareholders who tender will receive ₹328 per share (28-35% premium over recent market prices), providing an immediate return. Those who don't tender will see their percentage holding increase post-buyback without additional investment.