Public Announcement for the Buyback of Equity Shares of Onward Technologies Limited.
ONWARDTEC · price
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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 is being conducted via the tender offer route through the stock exchange mechanism. The record date for determining eligibility is May 18, 2026. The buyback price represents a premium of approximately 35% over the weighted average market price (₹242-244) of the shares during the specified period. Promoters holding 39.07% of shares have confirmed they will not participate in the buyback. The maximum buyback represents 8.53% of the company's standalone equity capital.
Shareholders have an opportunity to tender shares at a significant 35% premium to recent market prices. The buyback is positive for remaining shareholders as it signals management confidence and should support the stock price. However, the non-participation by promoters may limit the supply of shares available for buyback.