Onward Technologies Limited has completed the dispatch of the Letter of Offer for its buyback of up to 5,48,780 fully paid-up equity shares at a price of ₹328 per share, aggregating up to ₹18,00,00,000. The company submitted a copy of the newspaper advertisement published on May 21, 2026, to the stock exchanges, confirming the completion of the dispatch process. The Letter of Offer was filed with SEBI and stock exchanges on May 20, 2026, and subsequently dispatched to eligible shareholders as on the Record Date of Monday, May 18, 2026. The buyback offer is being conducted through the tender offer route using the stock exchange mechanism.

Buyback Schedule and Entitlement

The buyback opening date is Friday, May 22, 2026, and the closing date is Friday, May 29, 2026. The last date for receipt of tender forms by the Registrar is May 29, 2026, by 5:00 PM IST. The buyback size represents 2.41% of the total paid-up equity share capital. The Promoters and Promoter Group have confirmed they will not participate in the buyback.

The entitlement ratio for the Reserved Category for Small Shareholders is 39 Equity Shares for every 985 Equity Shares held on the Record Date. For the General Category for all other Eligible Shareholders, the ratio is 34 Equity Shares for every 859 Equity Shares held on the Record Date. Eligible shareholders can check their entitlement on the website of the Registrar to the Buyback by visiting the specified link and entering their DPID CLID, Folio Number, or PAN.

Financial Context and Appointments

For the financial year ending March 31, 2026, Onward Technologies reported a net profit after tax of ₹32.16 crores on a standalone basis and ₹44.32 crores on a consolidated basis. The company has been debt-free for the last three years. Centrum Broking Limited has been appointed as the Manager to the Buyback, and MUFG Intime India Private Limited has been appointed as the Registrar to the Buyback.

Onward Technologies has received an Order-in-Original from the Office of the Joint Development Commissioner, SEEPZ-SEZ, Mumbai, regarding delays in filing statutory export forms. The order imposes a monetary penalty of ₹10,00,000 on the company for procedural lapses connected to export transactions. The order was received by the company on May 20, 2026.

The regulatory action pertains specifically to delays in filing 270 SOFTEX Forms within the prescribed timelines under applicable RBI regulations and SEZ Rules, 2006. The authority clarified that the order involves only procedural delays and does not include any allegations regarding export realization, diversion of funds, misuse of export incentives, or loss of foreign exchange. The export proceeds related to the subject transactions have been duly realized through authorized banking channels.

Details of the Order

The following table outlines the key particulars of the regulatory order as disclosed by the company:

Operational Impact

The company stated that the financial impact of the order is presently limited to the penalty amount. It further clarified that there is no material impact on the operations, financial position, or other activities of the company. Onward Technologies is currently evaluating the order and the available legal remedies. The relevant SOFTEX Forms have since been filed, and the authority has condoned the procedural delays to close the issue.