Onward Technologies Allots 5,400 Equity Shares Under ESOP 2019

Mumbai, January 28, 2025 – Onward Technologies Limited (NSE: ONWARDTEC, BSE: 517536) has announced the allotment of 5,400 equity shares under its Employee Stock Option Scheme (ESOP) 2019. The allotment was approved by the Nomination and Remuneration Committee of the Board through a resolution passed on January 28, 2025.

Key Details of the ESOP Allotment​

• Total Shares Issued: 5,400 equity shares.
• Face Value per Share: ₹10.
• Issue Price: ₹20 per share (includes a ₹10 premium).
• Distinctive Numbers: 2,26,71,671 to 2,26,77,070.
• ISIN: INE229A01017.
• Post-Allotment Total Shares: 2,26,77,070 equity shares.
• Total Issued Share Capital Post-Allotment: ₹22.67 crore.

Compliance & Listing Details​

• The allotment complies with Regulation 10(c) of SEBI’s Share Based Employee Benefits and Sweat Equity Regulations, 2021.
• The company has confirmed that all newly allotted shares rank pari-passu with existing equity shares.
• No lock-in period is applicable for these shares.

Strategic Implications​

The ESOP allotment is part of Onward Technologies’ strategy to enhance employee engagement and align long-term incentives with company growth. This move underscores the company’s commitment to rewarding employees and fostering ownership within the organization.