The company announced that Rs. 180 crores buyback for 2.41% of its total stake will be done through tender route on proportionate basis. It further stated that the promoters and the promoter group will not participate in the buyback.
Record date for Onward Tech’s buyback
Onward Technologies has set May 18 (Monday) as the record date to determine the eligibility of shareholders who can tender shares as part of the buyback. The company has constituted a ‘Buyback Committee’ in this regard, and has appointed Centrum Broking as the manager of the buyback. Notably, this will be the first time for Onward Tech Share buyback.
A share buyback refers to a corporate action where a company repurchases its own shares from existing shareholders, often at a premium to the market price. Before the buyback, the promoters and the promoter group held 39% stake in the company, while the public held around 60%.
Next Tech share price
Onward Tech shares quickly recouped all losses to trade in the green soon after the buyback announcement, but soon erased all the gains and slipped into the red on Tuesday afternoon on the NSE at Rs. Traded at 266.
The company’s shares are up more than 9% in a week, about 6% in a month and are down 10% so far in 2026. Over the long term, Onward Tech shares rose 8% in one year and 122% in five years, but fell 36% in three years.
The company currently has Rs. Has a market capitalization of over 607 crores. The stock’s P/E ratio is a little over 14.
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