Onward Technologies Limited has successfully completed the buyback of 5,48,780 fully paid-up equity shares, representing 2.41% of its total paid-up equity share capital. The company repurchased the shares at a price of ₹328 per share, aggregating to a consideration of ₹18,00,00,000, excluding transaction costs. The offer was subscribed 4.50 times, with the tendering period open from May 22, 2026, to May 29, 2026.

Buyback Details and Subscription

The Registrar to the Buyback, MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), considered 3,457 valid applications for 24,69,566 equity shares. The subscription level was approximately 4.50 times the maximum number of shares proposed to be bought back. The settlement of all valid bids was completed by the Indian Clearing Corporation Limited and the National Securities Clearing Corporation Limited on June 5, 2026.

Capital Structure Changes

Following the buyback, the extinguishment of 5,48,780 equity shares is currently under process and is expected to be completed on or before June 16, 2026. The company's issued and subscribed paid-up capital has reduced to 2,22,11,890 equity shares of ₹10 each, amounting to ₹22,21,18,900. This figure includes an allotment of 6,800 equity shares to employees who exercised options under the Onward Employee Stock Option Plan 2019 on May 19, 2026.

Shareholding Pattern

The shareholding pattern post-buyback indicates an increase in the promoter group's holding percentage to 40.02%, up from 39.07% previously. Foreign investors now hold 59.98% of the post-buyback equity share capital. Shares were accepted from several major shareholders, including Infinity Direct Holdings and Infinity Portfolio Holdings, which accounted for 14.28% and 13.85% of the total shares bought back, respectively.

Regulatory Compliance

The buyback was conducted pursuant to the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. Centrum Broking Limited acted as the Manager to the Buyback Offer. The Board of Directors of Onward Technologies Limited has accepted full responsibility for the accuracy of the information contained in the Post Buyback Public Announcement.

Onward Technologies Limited disclosed that its promoters and promoter group have not created any encumbrance on their shareholdings during the financial year ended March 31, 2026. This confirmation, submitted on April 06, 2026, covers all shares held directly or indirectly by the promoters, including Persons Acting in Concert (PACs). The declaration ensures that the share capital remains free from charges such as pledges or hypothecation, which is critical for maintaining ownership stability and regulatory compliance.

The filing was made in accordance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates that promoters annually confirm the status of their holdings to prevent covert accumulation or disposal of stakes that could trigger takeover codes or affect market liquidity. The document was signed by Jigar Mehta, a promoter of the company, on behalf of the entire promoter group.

Aakash Joshi, Company Secretary & Compliance Officer of onward technologies , submitted the declaration to both BSE Ltd. and National Stock Exchange of India Ltd. The submission included specific reference numbers and was addressed to the respective regulatory heads at the exchanges. The filing was formally acknowledged and recorded by the exchanges on the same date.

The disclosure provides transparency regarding the financial standing of the company's key shareholders. By confirming the absence of encumbrances, the promoters signal that there are no immediate risks related to margin calls or forced sales of shares, which could otherwise lead to volatility in the stock price. This information is material for investors assessing the governance and risk profile of the entity.

Key Filing Details