Onward Technologies Limited has informed the Exchange about public Announcement - Buyback of Shares
ONWARDTEC · price
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On the reaction day the stock moved 0.8 pts less than Nifty Microcap 250 and 0.2 pts more than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Onward Technologies Limited has announced a buyback of up to 5,48,780 fully paid-up equity shares at ₹328 per share, totaling up to ₹18 crore. The buyback will be conducted through the tender offer route using the stock exchange mechanism on a proportionate basis. The record date for determining eligible shareholders is May 18, 2026. The buyback price represents a premium of approximately 35-36% over the weighted average market price (₹242-256 range) in the preceding weeks. The company states it has strong cash reserves and the buyback is part of its capital allocation policy to return value to shareholders while also improving return ratios. Promoter group holds 39.07% of shares and has indicated intention to participate in the buyback.
The buyback offers shareholders a 35%+ premium over current market prices, providing an attractive exit opportunity. This is positive for minority shareholders and signals management confidence in the company's intrinsic value. The stock is likely to trade near the buyback price of ₹328 until the offer closes.