Onward Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on May 12, 2026.
ONWARDTEC · price
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Onward Technologies Limited's Board approved a proposal to buyback up to 5,48,780 equity shares (2.41% of total paid-up capital) at ₹328 per share in cash. The maximum buyback offer size is ₹18 crore. The buyback will be conducted via the tender offer route on a proportionate basis under SEBI Buyback Regulations. Promoters and Promoter Group have stated they will not participate in the buyback. The company has appointed Centrum Broking Limited as the Manager to the Buyback and constituted a Buyback Committee to oversee the process. A public announcement and letter of offer will be released in due course.
The buyback signals management confidence in the company's prospects and is typically positive for minority shareholders. The cash outflow of up to ₹18 crore will reduce the company's cash reserves. Post-buyback shareholding will increase for remaining public shareholders as the total number of shares decreases.