
Software outsourcing company Onward Technologies on Tuesday announced that its board of directors has approved the proposal to buy back nearly 5.49 lakh shares at a buyback price of Rs 328 apiece, implying a premium of nearly 20% from the previous closing price.
The company announced that the Rs 180 crore buyback will be done through the tender route on a proportionate basis for 2.41% of its total stake. It further said that promoters and promoter group will not participate in the buyback.